This instant card-issue system is enabled by the Co-operative Bank. It gives the Sacco the capability to print Visa Debit Cards right at the branch, at that very moment a customer applies for a card.
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Harambee Sacco chairman Macloud Malonza
during the launch of the card
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Harambee Sacco, the largest Savings
& Credit Co-operatives society in Kenya has launched instant card-issuance
to members.
This means that members of the Sacco can apply for and instantly receive
a Visa Debit card and immediately start using it to transact in the usual way
at any Visa-branded outlet including ATMs, Co-op Bank Agents or go shopping at
Visa-branded outlets and online stores.
This instant card-issue system is
enabled by the Co-operative Bank. It gives the Sacco the capability to print
Visa Debit Cards right at the branch, at that very moment a customer applies
for a card.
This is a first for Saccos and a huge change from the current practice where members have to wait for up to two
weeks to receive their Visa debit cards, Harambee Sacco the largest Saccos in
Africa with over 70 thousand members, an asset base of Ksh 30 Billion, and runs
6 branches spread across the country.
Speaking at the launch held at the head office of the Sacco – Harambee Sacco House, the Chairman of Harambee Sacco
Mr Macloud Malonza lauded the partnership between Harambee Sacco and
Co-operative Bank that enabled the new solution, which will significantly boost
convenience for Sacco members 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.
Furthermore, this instant issuing of
cards is consistent with Government guidelines intended to minimize the use of
cash in favor of cashless transactions in an effort to reduce the risk of
spreading COVID-19. As a Sacco, we invite our members who do not as yet have
debit cards to visit our branches and apply.”
Speaking at the same function, the
Director of Co-operatives Banking at Co-op Bank, Vincent Marangu said, “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.
This instant card issuing solution
will be rolled out to all Saccos that are providing Visa Debit cards to members
through the Bank.”With the roll-out of instant card issuance, Co-op Bank will
extend this service to millions of Kenyans through the regulated Saccos in
Kenya.
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