Harambee Sacco has partnered with the Co-operative Bank of Kenya (Co-op Bank) to issue Visa Debit Cards instantly upon application.
After receiving the cards, members will be able to immediately start using them to transact in the usual way at any Visa-branded outlet including ATMs, Co-op Bank Agents or to shop at Visa-branded outlets and online stores.
The partnership 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.
According to management, Harambee Sacco has over 70,000 members, an asset base of Ksh30 billion and runs six branches spread across the country.
“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 minimise the use of cash in favour of cashless transactions in an effort to reduce the risk of spreading COVID-19,” said the Chairman of Harambee Sacco Mr. Macloud Malonza.
Co-op bank will look to tap into the customer base of the sacco to increase its customer base and and partners, as it looks to recruit more saccos.
“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,” said Director of Co-operatives Banking at Co-op Bank, Vincent Marangu.