FEP Meru, Meru microfinance, Fountain Credit Services

MERU FEP OFFICE MOVES TO A BANKING HALL

The fountain Enterprises Programme Meru branch is in the process of moving from the smaller offices at Murerwa to a bigger premises with a huge banking hall.
The hall is opposite Barclays Bank, next to Bima Insurance on one side and the old teachers House. On the other. This is an indication of growth with the banking hall being the first one for FEP. According to a one of the pioneer member of FEP Mrs. Margret Mburugu, the site of the new premises places FEP in a vantage position to compete with the so called financial giants and ”though they have been around for decades, we shall beat them,” asserts confident Mrs. Mburugu.
For sometimes the main activity going on in the office was the Sacco activities but now the Fountain Credit Services will be an addition. The FCSL is a step towards a fully fledged Fountain Bank in line with FEPS vision 2015.
FEP was first introduced to Meru around April 2008 by Mercy Gatwiri. She had introduced the FEP Sacco idea which she referred to us as an advanced and refined kind of a merry-go-round. Mrs Mburugu, who was later to become the first investor in FEP, admits that the idea did not impress her. “The idea was introduced by an insurance agent and I did not have a soft sport for insurance people.” While she was a teacher, Mrs. Mburugu who by now was running a shop in Meru, had had an awful experience with insurance people who had wooed them into joining some scheme that promised manner but ended placing manure on the table.
As the saying goes persistence breaks resistance, Mercy’s insistence soon weakened Mrs. Mburugu. She and others grouped together and had their first formal meeting in Kamundi Hall in Meru Safari Hotel around May 2008. A group was formed and Meru FEP was born.
The group used to meet in hotels where they would be allowed to use the premises provided they paid for meals. As the group grew they hired a one room office at Murerwa before moving to the office they are now vacating.
Meru has about seventy three (73) investors and over 212 active sacco members drawn from Meru Chuka and Maua.
The new banking hall is in a secure spot that is also easily accessible.