This archive report was first published on 24 June 2020.
On June 24, 2020, Harambee Sacco, a leading Savings & Credit Co-operative in Kenya, made history by launching instant card-issuance to its members. This innovative service enables members to apply for and instantly receive a Visa Debit card, allowing them to transact at any Visa-branded outlet, including ATMs, Co-op Bank Agents, or online stores.
The instant card-issue system is enabled by the Co-operative Bank, which gives Harambee Sacco the capability to print Visa Debit Cards right at the branch, at the moment a customer applies for a card. This is a significant departure from the current practice, where members have to wait for up to two weeks to receive their Visa debit cards.
Speaking at the launch, Harambee Sacco Chairman, Mr. Macloud Malonza, praised the partnership between Harambee Sacco and Co-operative Bank, saying, 'The launch of this instant card issuance is timely, indeed overdue, as it will greatly enhance convenience for our members who from today no longer have to wait for weeks before they receive their cards.'
Co-op Bank Director of Co-operatives Banking, Vincent Marangu, also spoke at the function, stating, 'This launch is the latest among various digital banking solutions provided by the bank to enhance the efficiency of Co-operative Societies for the benefit of their members and prosperity of the Co-operative Movement at large.'
With the roll-out of instant card issuance, Co-op Bank aims to extend this service to millions of Kenyans through regulated Sacco's in Kenya.
Harambee Sacco, one of the largest Sacco's in Africa, has over 70,000 members, an asset base of Ksh 30 billion, and operates 6 branches across the country.
