From Left: Universal Traders Sacco CEO Dominic Mutunga and the Sacco's Board Chairman CPA Julius Mwengei speaking during the Sacco's 7th Special Delegates Meeting at Lysak. Photo Courtesy. 
By Andrew Mbuva
Universal Traders SACCO has rolled out a raft of strategic reforms aimed at strengthening its competitiveness, improving member value, and ensuring long-term financial stability.
Speaking during the 7th Special Delegates Meeting held at Lysak Haven Park in Machakos recently, the SACCO’s Board Chairman, CPA Julius Mwengei, outlined a series of initiatives targeting affordability, inclusivity, and digital resilience.
One of the standout measures is the review of loan interest rates downwards, a move designed to make borrowing cheaper and boost loan uptake among members.
Mwengei noted that this decision follows extensive feedback from members and is intended to enhance the SACCO’s appeal in an increasingly competitive financial market.
“We are aligning our credit products with market realities to ensure our members access affordable financing while maintaining the SACCO’s financial health,” he said.
To encourage savings and attract more deposits, the SACCO has raised interest rates on fixed and call deposits, rewarding members who invest with higher returns.
This adjustment, Mwengei explained, reflects the SACCO’s appreciation of member loyalty and seeks to strengthen its capital base for future lending operations.
In a deliberate effort to empower women and promote financial inclusion, Universal Traders SACCO has established a special fund dedicated to lending to women entrepreneurs and professionals.
The initiative will be supported by tailored credit facilities and capacity-building programs aimed at supporting women-led enterprises.
“This fund is a clear statement of our commitment to gender equity and inclusive economic growth,” Mwengei emphasized.
The SACCO has also turned its focus to digital security and cybercrime mitigation, recognizing the growing threats posed by cyberattacks in the financial sector.
To safeguard member data and transactions, the SACCO has strengthened its ICT systems, introduced cybersecurity training for staff, and adopted regular system audits and penetration testing.
In addition, it is developing a comprehensive incident response plan and exploring a cyber insurance policy to further cushion against digital threats.
Beyond these initiatives, the SACCO is aligning itself with global sustainability standards by integrating Environmental, Social, and Governance (ESG) principles into its lending and operational frameworks.
It has also appointed a Data Protection Officer to ensure full compliance with the Data Protection and Privacy Act, underscoring its commitment to member trust and transparency.
Looking ahead, the SACCO plans to explore Artificial Intelligence (AI) solutions such as chatbots for member inquiries and AI-driven loan appraisal systems to enhance efficiency and service delivery.
“These strategies are designed to secure our SACCO’s future, strengthen member confidence, and position us as a leading cooperative in the digital era,” Mwengei concluded.
