Faulu Microfinance Bank was established in 1991 by a Christian-based organisation Food for the Hungry International (FHI). It is a subsidiary of UAP Old Mutual Group. Faulu is one of the fastest growing banks with over 80 branches and 900 employees across the country. The bank has a clientele of over 400,000 people. Faulu was the first to become registered Deposit Taking Microfinance (DTM) in 2009 under microfinance act which is regulated by the Central Bank of Kenya.
This bank has transformed to one of the leading retail and MSME microfinance banks in Kenya. It is also a member of the Association of the Microfinance Institutions (AMFI). This bank offers Banking Solutions, Savings, Investments, Insurance both to retail and MSME clients segments, Credit Products, and Faulu Popote which means you can access your money anytime through mobile banking. The bank has implemented Faulu ATMs in partnership with Interswitch, Faulu Visa Debit Cards, and has also joined the Kenya Electronic Payment and Settlement Systems (KEPSS) that enables real-time Electronic Funds Transfer (EFT).
Why Choose Faulu.
The bank bears the responsibility of clients’ success. Their aim is to uplift the lives of the customers through financial education and positively mentor them on success. They encourage customers to follow their dreams and business until they succeed. Through the efforts of Faulu employees communities have been able to succeed. Faulu has a vision to the community. Basing it on the Bible When Jesus described to his disciples blessed are those who feed and care for the vulnerable Mathew 25: 35-36. The bank has a role to play in the community.
(i) Meeting Basic Primary Needs – The projects are focused on youth, education, food, and water.
Faulu also caters for health and disaster management to keep the community restored.
(ii) Community Involvement – They make sure the community-based projects are relevant to the community from conception to commissioning.
(iii) Staff Involvement – Their team foresee the projects until they are complete and ready for use by the community.
(iv) Involving God – As it is said this is a Christian based organisation. In everything they do they invoke Gods presence to guide them through.
The bank encourages people to build groups that help them access loans. Through these groups, Faulu Microfinance Bank has benefited customers in a significant manner.
These clients have established businesses. There is a bright future for the small scale traders who wish to boost their business. Faulu Kenya has undoubtedly transformed people’s future.