U&I Microfinance Bank is situated in the heart of Nairobi and is shattering glass ceilings in the banking sector. Located at the intersection of Latema Road and River Road, it is conveniently accessible to small, medium, and micro-enterprises.A few years after the company’s inception, the pioneers’ aim to transform it into a top-tier financial and commercial institution is being realized. Its competitive advantage has been sustained by its culture of excellent customer service, affordable lending rates, and teamwork. “I sought around the nation’s banking institutions for favorable loans until a friend suggested I contact U&I”, A fruit vendor admitted, “My business has expanded, and my income has leveled up.” So how did this microfinance institution overcome the odds to rise to the top?
Customers come in to learn more about our services and products before picking which is ideal for them and proceeding. This is facilitated by a committed team of passionate professionals who provide relevant guidance. According to a recent survey of our clients, excellent feedback was received regarding turn-around-time of loan application process and the length of the repayment period. The poll was designed to engage with our customers and hear their suggestions on how to improve the services. This shows unequivocally that our customers are highly valued and that it is our responsibility to help them find answers to their challenges.
Given the variety of accounts available, U&I accommodate individuals from all social classes, organizations in the form of chamas, and companies. Customers who want to save their money for a better future can benefit from a Biashara Saver account, which is the typical savings account. Our fixed deposit interest rates are far beyond those offered elsewhere for customers ready to invest a big sum. According to research, customer retention rates are always rising. “I used this bank to purchase my first car, and since then, I’ve paid off and gotten more loans that have helped keep me stable. Even in the midst of and after the Covid 19 outbreak, I was able to provide for my family,”Njoroge said. He emphasized, “I am a satisfied client speaking for many.”
The company has won a variety of prestigious awards, including the recently concluded Think Business Awards. It has demonstrated that it is poised to be the most prosperous microfinance institution governed by the Central Bank of Kenya through a track record of Winner Best MFB in Customer Satisfaction (2021), Overall Best Microfinance Bank (2022), among other accolades.
The institution has expanded its branch network to four: one in Asili Complex (the headquarters), one in Thika, one in Gikomba, and another in Matuu supporting the increasing clientele in Nairobi, Kiambu and Machakos Counties.