Remican SACCO reduced loan TAT by 60%, loan uptake by 35% and members’ savings by 75%.

Remican SACCO is a member-owned financial cooperative that empowers individuals with accessible and affordable financial services. It fosters savings, offers competitive credit, and supports members’ financial independence through transparency, trust, and community support.

Its core members include employees, professionals, and entrepreneurs from diverse sectors like small businesses, farming, and self-employment, all united by a commitment to saving, affordable credit, and ethical financial practices.

The SACCO currently serves over 142 active members and has an asset base of about KES 8.4 million, with steady growth supported by member contributions, sound management, and strategic investments.

Why Remican SACCO Chose CoopMIS

• All-in-One System: CoopMIS provided a fully integrated platform covering member management, savings, loans, accounting, and reporting. This eliminated the need for multiple disjointed systems.
• User-Friendly Interface: The system was easy to use for both staff and members. This reduced the learning curve and improved overall efficiency in daily operations.
• Regulatory Compliance: CoopMIS is designed to meet SASRA and other regulatory requirements. It has built-in features for financial reporting, audit trails, and data accuracy.
• Digital and Mobile Access: Their solution includes member access through mobile and web platforms. This improves convenience and transparency for our members.
• Scalability and Customization: The SACCO needed a solution that they could grow with. We offered customizable modules and future-proof capabilities like mobile banking, USSD services, and integrations.
• Reliable Support and Training: We stood out for our strong local support, timely updates, and willingness to train our team. This gave Remican SACCO confidence in our partnership approach.

Intended Outcomes

Digitize and streamline operations while enhancing service delivery to our members. They wanted to transition from manual and spreadsheet-based processes to a centralized digital platform that ensures accuracy, efficiency, and transparency.

Improve member experiences by enabling members to access services such as account balances, loan applications, and statements digitally. This means members can do so anytime, anywhere.

Enhance data integrity and reporting, ensuring financial records, member information, and reports are accurate, secure, and easily accessible for both internal decision-making and regulatory compliance.

Strengthen internal controls by introducing system-driven controls for loan approvals, transactions, and audit trails. This would help reduce risks and ensure accountability.

Prepare for growth and innovation. Remican SACCO wanted to adopt a scalable system that could accommodate future expansions, mobile banking integration, and better financial products for members. This prepares us for growth and innovation.

Results

Loan processing time reduced by over 60%,  what previously took 3–5 days can now be done within 24–48 hours.

Member onboarding time dropped by 50%, thanks to streamlined registration and digitized documentation.

Administrative and printing costs reduced by 40%, due to less reliance on physical forms, receipts, and reports.

Fewer manual errors and reconciliations have saved both time and money across accounting and loan departments.

Loan uptake increased by 35% within the first year, due to faster approvals and better access to products.

Member savings grew by 75%, driven by trust in digital transparency and improved communication.

Over 70% of members now access their accounts via the self-service portal or mobile app, enhancing engagement and reducing office visits.

Member complaints dropped by 45%, particularly those related to delays or lack of information.

Regulatory reports are now generated in minutes instead of days, with 100% accuracy and audit-readiness.

Testimonial from Remican SACCO

As a SACCO officer, I now spend less time on routine paperwork and more time focusing on strategic tasks that add value to our members and the organization. I no longer worry about data accuracy, lost records, or delays in reporting. Everything I need is at my fingertips, organized, real-time, and secure.

It has also enhanced my confidence when dealing with members and auditors because I know I have reliable data and a system that supports accountability.

If you are considering Coretec’s CoopMIS solution, I would say: go for it. It’s one of the best decisions we’ve made as a SACCO.

Benson Kamau Maina

Manager, Remican SACCO.