Sacco Maneno's

Business
1

Mabirionnaires advice hapa…So therez this sacco that holds about shillingi mia tatu of my savings (300K) so over Dec is decided to put some shilingi sitini (60K) that I didnt have urgent use for. only for me to get a quick sale pickup and I have been looking for one for the farm. on going back to request for finance wameanza vituko.

Ati if I boost my shares i.e the 60K I can’t be loaned against them, for once I am taking a self-guaranteed loan as I need just a little money to top up what I already have. I find this flaw fully unusual as I am not seeking to be guaranteed by anyone but myself. secondly, They are loaning me my own money and are already taking like 14Gs as processing fees and insurance.

What does the law say especially in regards to slf guaranteed loans from Saccos

What should I do?

2

Damn! Name and shame then hit buyer beware.

1 Like
3

This happened to me in one sacco,I have started exit process

4

Web Dev…its a big one…I need clarity first on whether that’s the law ama ni uburukenge

5

Kindu kiega Nyume onanie?? am super pissed off.

6

I can guess…is it related to accounting?

7

Nataka pesa sipewi, na doh ni yangu…

8

I wanted some quick 30k which is a very small fraction of what I have saved there but they insisted on guarantors.

9

No…

10

[SIZE=4]Is it captured anywhere in your sacco’s bylaws?, in some sacco[/SIZE][SIZE=2][SIZE=4]s, its a requirement that you get guarantors and or a witness before you apply for any amount of loan regardless your shares volume.[/SIZE][/SIZE]

1 Like
11

Hawa ni wale mamjamaa wa wakulima

12

No…never seen it,in fact after I followed up I came to learn that the loaning officer was wrong.This is after I filled up the quitting forms and cited that as the reason

1 Like
13

Si mtaje hizi sacco, ala? Mimi kuna ingine inaitwa EMPSO nilikua nimesave kedo 150k, kuenda kuitisha 400k loan wakaanza vituko na sarakasi. Nilitoa hizo pesa mbio sana, saaaaana.

1 Like
14

It depends on which acc you had put your 60k. Ka ni the ordinary savings, io unaesa withdraw any time ka bank. Ka ni ile ya shares sahau. You’re supposed to write to them unataka withdrawal, takes 2 months to do that. Ka ni loan utapewo immediately.
Asande na ubarikiwe ukienda kuchukua loan.

4 Likes
15

Is that SACCO registered by SASRA? Anyway, in order for us to help just assume we’re doctors and you’re the patient…the more information you share with us the more we can help you.

1 Like
16

Your 60k can’t mature overnight,the sacco got regulations

17

Mzee, kutoa ni noma pia. ati sijui ungoje 3 months…ilii doh itoke.

18

Mzee, kutoa ni noma pia. ati sijui ungoje 3 months…ilii doh itoke.

19

Yes its registered under Sasra. capital base of about about 600M na loanbook ya 1B or the other way round. shida yangu ni nikihama nipata the same kwengine

20

Mature ni kusema nini? I am borrowing against my own money? are there rules on how long you need to take to borrow against your money especially kama una more than an year saving there?

1 Like