By Faith Anene and Bradley Nandasaba, Kakamega
You &Me Cooperative Society has announced plans to grow its asset base to Ksh35 billion within five years and KSh200 billion in ten years.
Speaking during a members’ engagement forum in Kakamega County, the society’s Chief Executive Officer Julius Odera, said it currently has over 7,500 members countrywide, including nearly 500 in Kakamega.
“We believe that we can only develop or grow through the cooperative model. That is why we are here to engage our members so that they get as much information as they can and recruit on our behalf because the members are our number one marketers,” ~ You & Me ceo Julius Odera.
The cooperative aims to expand membership and empower Kenyans through loans and real estate investment opportunities, relying on internally generated funds without borrowing from other financial institutions.
The ambitious targets form part of the society’s long-term strategy to become one of Kenya’s largest cooperatives, with members playing a central role in driving its growth through recruitment and increased savings.
Mr Odera said the society was banking on the cooperative model to expand its reach and strengthen its financial position.
“We believe that we can only develop or grow through the cooperative model. That is why we are here to engage our members so that they get as much information as they can and recruit on our behalf because the members are our number one marketers,” said Odera.
He said the society had adopted a membership-driven strategy dubbed ‘1+2’, bringing together the secretariat, ambassadors, delegates, directors and ordinary members to support its expansion agenda.
Odera said the cooperative currently has a savings portfolio of Ksh850 million and a loan book of Ksh1.3 billion, adding that it had not borrowed from any financial institution to finance its lending activities.
“We have utilized more than what we have mobilised from our members in the form of loans. We have not borrowed from any institution. We are basically reinvesting what we generate internally from the business that we do,” he said.
He said the society’s primary objective was to empower members by providing financing to help them acquire homes, purchase land and develop income-generating properties.
“The asset base we are talking about is not about buying properties but empowering our members in the form of giving them loans to actualize their dreams of owning either their homes or properties that would generate income for them,” he said.
Odera added that the society was prioritizing trust and governance as it expanded, saying its members needed assurance that their savings were secure.
He described the society’s governance structure as a key pillar in building confidence among members and attracting new investors.
The cooperative’s delegate, Dr Osano Ben, expressed confidence in You & Me’s governance structure, saying its leadership brings together professionals from diverse fields, including accounting, law and academia, to promote accountability and protect members’ investments.
He said the society was building a strong foundation of trust to ensure members could confidently invest their savings and enjoy long-term benefits.
“We have a unique governance structure that is designed to build members’ confidence and assure them that whatever investment they make in You & Me Housing Cooperative Society is safe. We want members to see the fruits of their investments, not only in their lifetime but also for their children and generations to come,” said Dr Osano.
He added that the board’s professional composition demonstrated its commitment to responsible leadership and protecting the society’s reputation.
“We have accountants, lawyers and university lecturers serving on the board. As professionals, we have reputations to protect, and we are committed to ensuring that this society grows on a foundation of integrity, transparency and accountability,” he said.
He encouraged more Kenyans to join the cooperative, saying its growth would strengthen collective efforts to bridge the country’s housing deficit and expand access to homeownership.
The society’s Business Development and Marketing Manager, Lenah Makena, said its membership base cuts across different sectors of the economy and includes Kenyans living and working abroad.
She said anyone with a regular source of income could join the cooperative and access products designed to support different real estate investment needs.
“If you are looking for money to buy a plot, construct your house, complete an incomplete building or renovate your house, then You & Me will be able to offer you that solution,” said Makena.
She added that the society was developing a Sharia-compliant product targeting Muslim members, which was expected to be launched in 2027 during its annual delegates or members’ meeting.
Makena said members could save through different payment arrangements, including daily, weekly and monthly contributions, with amounts starting from as little as KSh50.
She said the flexible arrangements were intended to make property investment accessible to people across different income brackets.
The society’s expansion drive comes as the government steps up oversight of cooperative societies to protect members from financial losses arising from poor governance and mismanagement.
Kakamega County Director of Cooperatives Ben Kangale said the government was committed to ensuring cooperative societies operated within the law, noting that You & Me had been registered in early 2019.
He said strong cooperatives played an important role in improving members’ economic welfare while contributing to national economic growth.
“When cooperative societies are strong, they contribute to the economic empowerment of their members. They also contribute to economic growth. That is why, as a government, we pay close attention to ensuring that cooperative societies comply with the law,” said Kangale.
He also encouraged residents to join U&ME, describing it as a society with potential to help address housing challenges through partnerships and access to financing.
However, Kangale warned that poor leadership remained a major threat to the sustainability of cooperative societies, with some collapsing after mismanagement of members’ funds.
He said the government was working on proposed legislation before the National Assembly and Senate that would introduce stricter accountability measures for cooperative leaders responsible for financial losses.
The proposed law also provides for liquidity and protection funds for savings and credit cooperative societies, which would help cushion members against losing all their savings if a society collapsed.
“Those leaders who are responsible for the collapse of cooperative societies must be held accountable. We will not allow societies to be plundered,” he said.
Meanwhile, Regina Barasa, a You & Me member and food entrepreneur from Bungoma County, offered a practical example of how cooperative financing had helped her acquire property and build a home.
Barasa, who runs a traditional food business selling githeri and other African dishes opposite Bungoma Law Courts, said she joined the society after being introduced to it by a customer in 2020.
She said she initially struggled to trust the savings arrangement, particularly because her small business depended on daily sales and she feared losing the little money she had managed to earn.
“I saw it as a huge burden and feared that I might be conned and lose my money,” she said.
However, after saving for six months, she had accumulated Ksh550, 000 and qualified for a loan that enabled her to purchase land and construct a five-bedroom bungalow.
Barasa said the society financed her acquisition of three plots, where she has built her home and plans to undertake additional investments.
“Here is my house, a very beautiful five-bedroom bungalow, and I have never regretted my decision,” she said.
She now plans to establish a poultry project with 1,000 chickens, alongside four shops and rental houses on the property.
“I can refer people to the You & Me circle 110 times over because it is the most reliable savings circle you can bank on,” she said.
