[2] The bank is a medium-sized financial institution in Kenya, serving corporate clients, small and medium enterprises and individuals.

[8] In September 2014, Mwalimu Cooperative Savings & Credit Society Limited, Kenya's largest Sacco by assets, made a bid to acquire 51% shareholding in Equatorial Commercial Bank in a deal valued at KSh.1.7 billion/= (approximately US$18 million).

[9] This move was in line with the strategic objective of the society of expanding business opportunities.

The acquisition, was to enable the Sacco to collect deposits from beyond its membership, access funds at lower rates, venture into trade finance and offer its members ATM services.

[14] The shareholding in the bank stock, as at March 2016, is depicted in the table below:[15] In December 2020, The EastAfrican reported that Mwalimu Sacco had concluded the acquisition of the 25 percent shareholding in Spire Bank, that the Sacco did not previously own.