Co-op Bank announce opening of 7 new branches for deeper reach

Co-operative Bank of Kenya has bucked the industry trend where several lenders have rolled back their brick and mortar footprint, and is expanding physical outlets to add onto the current 173 branches in Kenya.

Seven new Co-op Bank branches are underway in carefully-selected locations namely Kamakis on Nairobi’s Eastern Bypass, Kabarnet, Iten, Moyale, Mwiki/Kasarani, Bunge at the new Parliament Tower in Nairobi and Kamulu in Nairobi Eastlands that opened doors in December last year.

Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank's Head of Branch Banking Peter Kirugu.
Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank’s Head of Branch Banking Peter Kirugu.

The expansion of brick and mortar presence will complement the bank’s robust Digital Banking channels that continue to grow in popularity to now handle over 90% of customer transactions, with Mco-opCash mobile wallet having registered 5.3 Million users and disbursed Kshs 51.3 billion in loans as at the close of the third quarter of last year, averaging Kshs. 5.7 Billion per month.


The decision to determine need and location of new branches is determined through rigorous market research.

The new branches do not typically increase staff headcount as they are usually staffed from existing teams, following the branch transformation and digitization program implemented under the Soaring Eagle project that has enabled agile resourcing of the business.

Banks have been making cost savings by rolling back their branch network as some customers prefer to use online banking services, what informs the decision to buck this trend and open new branches?

First, selection of branch sites is always supported by rigorous market research to ensure viability, for which reason we’ve never closed a branch in our 50-year history.

Co-op Bank’s new branches give us an insight into emerging centres of economic activity that are currently underserved by banks.

Second, we believe there is no one single channel that will displace all others, rather, it’s the investment in an optimal and balanced multichannel strategy that will offer a fulfilling experience to the customer.

The emerging theory that bank branches and ATMs will cease to exist is largely wishful thinking driven by desires to cut brick and mortar costs, and not by credible customer feedback on the service outlets through which customers prefer to be served.

Whilst some customers will do some transactions online or on cellphone, a significant section of customers will always prefer to engage a bank through a physical branch, especially for certain services, for a long time to come.

Third, Co-op Bank branches are Service Hubs, as they serve not just own customers, but also service the bank’s subsidiary network including Saccos especially those running FOSAs now numbering 479 countrywide, and 23,000 bank agents who depend on our cash management services, training and supervision to run.

How can we have a viable bank agency network or Fosas when the nearest bank branch is say over 50 kms away?

Four, for Co-op Bank a branch is not just a transactional point, it’s a statement of intent to build sincere lifelong relationships.

Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank's Head of Branch Banking Peter Kirugu.
Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank’s Head of Branch Banking Peter Kirugu.

Fourth, the advent of Devolution and establishment of County Governments has fostered a totally new economic dynamic with counties emerging as new centres of economic dynamism.

Co-op Bank has a County Banking Strategy aimed at building competencies to serve the unique needs of the various counties and communities.

This includes having some form of physical presence in all counties, as it would be highly unlikely that any county would partner with a bank that has no presence in a county.

The ongoing migration of routine bank transactions such as cash withdrawals, deposits and payments to alternative channels offers banks the space for deeper engagements with customers and the wider community.

This includes more focus on customer advisory, consultancy and training, to build lifelong relationships, brand immersion and sustainable value-add to the communities in which we do business.

Similar to other lifelong relationships, banking needs to be nurtured for the long term rather than regarded as transactional interactions.

Christmas made easier by Co-op Bank

The festive season is upon us and I am sure you are wondering how to ensure your December actually Decembers like every other December. In fact, if you have children or you have to actually go upcountry, then you know the pressure is real for you to make this a special Christmas complete with gifts.

Well, this is where Co-op Bank comes in to partner with you. No, not for the kayumbet but to ensure your business continues to run smoothly throughout the holiday season. Seriously though, you will have to figure out how to navigate the delicate procedure of impressing your aunties on your own BUT at least you know Co-op bank is helping you keep your payments and business operations running smoothly.

And how is this going to be achieved while you’re all the way in the village enjoying some traditional brews, your family time as you tell each other stories while sitting around the campfire? Easy:

Online card payments

Boost your sales by integrating into our online card payment solution to receive card payments from customers from different banks and from anywhere in the world.

These are Co-op Bank ATMs, Debit or Credit Cards. All payments for purchases or goods delivered can easily be checked off by swiping these cards.

With card payments, its easier to track stock levels, and enjoy an easy check out flow.


This is a device that refers to a payment terminal accessed by Visa cards to make electronic fund transfers. They are common in malls, supermarkets and fuel stations.

POS stands for Point Of Sale in a business outlet. PDQ stands for Process Data Quickly.

Co-op Bank avails PDQ/POS machines to their clients. These machines greatly boost sales by enabling them receive card payments from customers from different banks.

A trader enjoys timely reports, easier tracking of income and expenses.

Lipa Na M-Pesa Till Number

Co-op Bank provides this service in partnership with Safaricom M-Pesa service. The bank offers to process a till number for their clients businesses, at no charge.

This helps a business to receive cashless payments via Lipa na M-Pesa Till Number – usualy displayed at payment point at the business premises.

The money clients pay through the Till number is deposited directly into the clients Co-op Bank account.

The payments paid into the account can be accessed anytime via Co-op Banks mobile banking platform, ATMs, Co-op Kwa Jirani agents, Internet banking or at any branch across the republic.

M-Pesa Paybill 400200

Co-op Bank’s official M-Pesa Paybill number – 400200 – enables a trader to receive payments directly into their Co-op Bank account. The money reflects into the account immediately.

One can also check for the payment confirmation via our mobile banking or internet banking platforms. Alternatively, one can receive notifications via text if they have subscribed to the MCo-op Cash SMS notifications.

The funds are accessible anytime via the banks’s mobile banking platform, Co-op Kwa Jirani agents, ATMs, Internet banking or at the branch.

M-Coop Cash

This feature is not limited to business owners, but to everyone with a Co-op bank account. Its applicable to all needs that require exchange of money.

Encourage colleagues, family members, clients or business associates who have Co-op Bank accounts to send money directly account using the MCo-op Cash App or via USSD *667#.

How does a business boost sales?

Easier tracking of expenses.

Timely business reports.

Easy check out flow.

Instant payment confirmation via SMS notifications or via internet banking platform.

Payments are deposited into Co-op Bank account – easy access anytime via mobile banking platform, ATMs, Co-op Kwa Jirani agents, internet banking and at the branch.

How does a client register for Co-op Bank online banking?

You can log in and transact using any internet-enabled device including mobile phone, tablet, laptop or desktop computer.

Registration is INSTANT and FREE of charge. All you need is your National ID and any of your Co-op Bank ATM cards. Click here to register.

Youll create your own username and password, which you can re-set anytime in case you forget or feel the need to change.

Every time you log in or do a transaction, youll have to enter an OTP (One Time Password) which is sent to your mobile number or email address.

This is a security feature Co-op Bank has in place to keep accounts secure.

How a flashy pair of Fourth Formers easily rip off an entire batch of newcomers (monos) of their prized pocket money

Nkubu Town is a mid-tier business and residential township in Meru County. While previously ranked ‘sleepy’, the town’s in hot pursuit of the county’s major administrative sibling – Meru town, just a couple of miles north. High rise business projects are slowly changing the town’s skyline, and I had a dream to be part of this new tide.

I chose to invest into the hardware business field – supply building materials. While I had majored in business in college, my folks (who were the principal financiers) had little faith in this venture. The ravaging Covid-19 virus situation also didn’t help. I had to be different.

I was also informed that the construction field was filled with fraudsters. Conniving contractors are a dime a dozen. I didn’t say lest I gave off a cocky vibe, but I’ve had encounters with fraudsters that had weaned me off.

The first was an experience in my first week in high school.

A day or two after reporting day, we had settled in class in the evening. An innocent bunch of ‘green monos’ – freshly issued uniforms crisp and fitting. We still hadn’t started lessons, as belated reporting was ongoing. We hadn’t met all the teachers, yet.

Presently, a pair of smartly dressed gents in fitting blazers and blue jeans (and, white sneakers) enter our class. They introduce themselves as Biology and Chemistry teachers. They are well-informed, and pleasantly casual. While one intimates that he’s wishing for an administrative allocation as our class teacher, the other says he’s keen on drama – wants to know if there are any acting enthusiasts in our lot.

The entire class instantly wanted to be the ‘Next Break-out Star’ in Drama Club!

After a while, they tell of their purpose to visit. They express regret that they welcoming us with bad news. The bad news? One of their colleagues – a Physics teacher – had passed on just a day earlier. The school tradition is that students and teachers contribute to some welfare fund for the bereaved family.

Long story cut short, a pair of flashy, smart-talking Fourth Formers ripped us off our pocket money, after a tall story. They were so good – they successfully repeated that charade in four streams. Of course, they couldn’t be traced.

I lost Kes.500 on that evening’s preps.

For my business, I decided to learn from one of the town’s most established hardware merchants – The Kinoti G.K Hardware. The business is located in an iconic building along the highway that splits the town.

Meeting the gentleman took a while, but I learnt a lot as I waited at the premises. One, he rarely worked there. He ran the business from home. Two, the customers rarely came to the premises. All day long, I’d see pick-up trucks getting loaded for deliveries to construction sites.

When we met, the pleasant gentleman was keen to share his business strengths, on a mentorship role.

He had opted for cashless payments, and its success to the E-commerce solution offered by his banking partner, Co-op Bank.

E-commerce afforded him a variety of advantages.

Customers do not need to be physically present. Payments can be transacted at any time from any location in the world and delivery is done. For instance, Kenyans in the diaspora with construction projects in their rural homes would pay make payments directly to his Co-op Bank account. Delivery of materials to the site is then made.

With an outstanding real-time processing speed with average authorisation response times typically below 2 seconds, such clients would find it very convenient, and safe.

There’s more sales, too, as E-commerce allows flexibility for multiple currencies – Kes, USD, GBP and Euro.

Besides, a customer enjoys a variety of cards: International VISA credit and debit cards, pre-paid cards.

While I’d like to serve clients even in the diaspora, I said that am targeting local customers. The merchant advises me to visit Co-op Bank. They’d assist me get a Lipa Na MPesa till number for my business.

In the face of danger with the Covid-19 pandemic, it’s safer to go cashless with the E-commerce solution from Co-op Bank.

#StaySafe #StayHome



For a business owner, how does using the E-commerce solution from Co-op Bank help grow a business?

The ravaging Covid-19 pandemic has dictated a rather drastic change to our livelihoods if we have to check its spread.

The business owners have had to embrace cashless means of payments, to lower their risk levels presented by use of hard cash. There’s need, therefore, for a reliable E-commerce platform.

To address that concern, The Co-operative Bank has heavily invested in E-commerce to guarantee safety and quick flow of payments to their clients – Merchants and their customers.

Here’s a preview of various advantages a merchant enjoys:

  1. Convenience to their customers consequently an increase in sales: Customers do not need to be physically present. Payments can be transacted at any time from any location in the world and delivery is done.
  2. Outstanding real-time processing speed with average authorisation response times typically below 2 seconds: quicker service delivery as payments reflect instantly.
  3. A customer enjoys a variety of card: International VISA credit and debit cards, pre-paid cards – which doubles safety and convenience on both ends.
  4. There’s more sales, as E-commerce allows flexibility for multiple currencies – Kes, USD, GBP and Euro
  5. The E-commerce solution gives unparalleled processing scalability and security – as it’s instant, and avoids the risks fraught with using hard cash.
  6. The merchants and their customers enjoy exceptional service reliability that’s backed by 24/07 operations support. In case of any hitch, there’s real-time assistance.
  7. E-commerce allows advanced fraud prevention solutions, on both the merchants’ and customers’ end.
  8. The ease of integration. A merchant using the E-commerce has accounting and book balancing cut out, as opposed to tedious paperwork occasioned by hard cash sales.
  9. Real-time reporting on payments and account statuses for trading partners.

Most importantly, with the E-commerce solution, merchants are now be able to receive payments not only from Co-op Bank card holders but also card holders from other banks.

Co-op Bank also offers other Cashless solutions to merchants. For instance:

  1. Lipa Na M-Pesa: The bank assists you get a till number so payments can be directly deposited into your Co-op bank account.
  2. POS/PDQ terminals: Customers do not need to handle hard cash. They can use their cards to make payments, and money is deposited directly into the merchant’s account.
  3. MCo-op Cash: Co-op bank customers with the mobile banking solution can conveniently transfer money directly from their Co-op account into the merchant’s Co-op account using the USSD number *667# or via the MCo-op Cash app.
  4. Lipa Na M-Pesa Paybill number 400200: Customers can use their phones to send money directly into the merchant’s Co-op bank account using the M-Pesa Paybill number 400200.

Merchants are encouraged to contact Co-op Bank for details and assistance.