In Summary
Concorde SACCO Society Ltd. was registered in 1979 under the Co-operative Societies Act, Cap 490. The SACCO has been in the business of savings and credit since then and primarily mobilises savings from members and extends loans to the same members, thereby empowering them financially and socially. Concorde SACCO mainly draws its members from various airlines (i.e., employees of various international airlines operating in Kenya), travel agencies, and other travel-related organisations.
However, in order to hasten membership growth, the SACCO opened up its common bond to individuals and other reputable related organizations. As of December 31, 2019, the active membership was 2,000 members from 15 airlines, over 100 travel agencies, 10 handling companies, and other reputable organisations, including individuals. As of December 31, 2019, total members’ deposits were KES 637 million, and total loans granted to members were KES 584 million.
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