Golden pillar grows steadily, achieving key milestones and elevating members’ lives

Just like its name Golden Pillar, which loosely translated means lustrous gold column or shaft or support for a structure, Golden Pillar Sacco has been supporting and transforming the lives of its members for decades by offering attractive financial products and services.

Since its establishment in 1972, Golden Pillar has continued to record tremendous growth and financial performance to stand tall in thriving Kenya’s cooperative movement.

Golden Pillar’s tremendous growth is one that many ought to learn from. However, this has not come on a silver platter, but through well stipulated ethos and principles anchored in prudent leadership and management.

The 51-year-old Sacco, which has withstood the test of turbulent financial times that has seen many Saccos split and collapse, is still going strong. Golden Pillar Sacco has grown to become one of the biggest indigenous financial institutions in Meru and its environments.

Golden Pillar which was earlier dubbed as Imenti Co-operative Savings and Credit Society was registered in the year 1972 to serve employees of the Meru Central Farmers Union and affiliates.

The Sacco however widened its membership base in 2005, attracting employed and business individuals, corporates, groups, investors, employees in the national and county governments as well as professionals in various fields.

Golden Pillar Sacco was licensed by SASRA in the year 2012 and has remained compliant since then. The Society offers both Back and Front Office services to Members.

Since its formation, Golden Pillar Sacco has created an avenue for individuals in the informal and formal sectors to associate with persons of like minds through saving and borrowing loans from the Sacco. The Sacco has empowered its members through its affordable loans enabling them to turn their dreams into reality.

Apart from offering attractive loans, dividends, and rebates, Golden Pillar Sacco has stood out in the market as a caring and listening investment partner, as it provides a wide range of customized financial solutions to its members, giving them a hand-up in life.

Members of Golden Pillar Sacco are allowed to seek various low-interest loans such as normal/development loans, medium-term agricultural sector loans, school fees, biashara booster loans, golden salary loans, salary advances, and emergency loans among others.

Through Golden Pillar, a number of employed and unemployed individuals have benefitted from the products and services offered. A number of them have been able to build houses using development loans turning many members into landlords.

Additionally, the education loan has also enabled the members to pay fees for their children while others have started and grown businesses of their own using the biashara booster loans. This has tremendously transformed lives.

Kenneth Munene, a Kithirune-based Dairy farmer is an example of many such members who have transformed their lives using Golden Pillar Sacco products and services.

Mr Munene’s dairy farming business was on the brink of collapsing during the Covid-19 period after selling his herd due to financial constraints, however, Munene says he was able to acquire seed capital through the Golden Pillar Sacco which enable him to purchase more cows.

“Before my venture collapsed as an effect of COVID-19, my cows were producing 300 liters per day by then. I was left with a structure of more than 50 cows. In early 2022 I was introduced to Golden Pillar Sacco and I shared my past worries but showed them my vision. Today I have ten cows and I can confess this has been made possible by the help of Golden Pillar,” Munene narrates.

Over the years, Golden Pillar’s upward growth trajectory has remained steady, with members receiving attractive annual investment returns. The Sacco has also leveraged technology to improve service delivery while offering relevant, reliable, and convenient banking solutions.

Members of Golden Pillar have access to 24-hour alternative banking channels such as mobile banking services, and ATM services.

Golden Pillar moreover operates with integrity whereby everything is done with transparency and honesty. Reports are audited annually and presented to members. This thus gives members confidence and assurance of the safety of their money.

The society has also complied fully with the government regulations that concern cooperatives.

Golden Pillar has also been leading in training its member on financial literacy and management aimed at keeping them abreast with the Sacco’s products and services and the emerging trends in the Cooperative movement in a bid to empower them economically and socially.