KUSCCO Ltd, the umbrella body for Saccos, has been awarded the 2013 Winner of World Council of Credit Unions (WOCCU) outstanding membership growth award.
The award recognises that Saccos in Kenya have the highest growth rate globally.
It was given in the just concluded 2013 WOCCU conference, held in Ottawa, Canada.
Kenya and the US achieved remarkable growth in membership, while Brazil’s Credit Unions reported an increase in assets last year. KUSCCO Ltd reached 25 per cent membership growth among 5,000 Credit Unions, increasing from 4.2 million members to 4.7 million.
The US Credit Union National Association added 2.1 million members.
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George Ototo, Managing Director, KUSCCO Ltd said countries introducing Sacco regulations should avoid the cut and paste tendency and the ‘one coat fits all syndrome’, as regulation in one country might not fit in another.