We are in the middle of Q3 towards Year end. Have you interacted with your Sacco so far so good? In keeping with our tradition of empowering you, the credit department has always played a major role towards loan management portfolio through facilitation of products and services with the member in mind. This year has been no exception; we have researched on the current market trends & dynamics in the financial sector to leverage on this to design superior products and services for our members in line with their needs. 

Collateral extended to Logbooks & Title Deeds

The Sacco Industry operates on mutual trust, however, some members have had to pay for delinquent loans. We are now solving the Guarantor conundrum!  The Sacco introduced collateral based lending whereby you are now able to secure a facility using your Title deeds and logbooks. The process is simply carrying out a Valuation and charging for Titles and joint registration for motor vehicle logbooks respectively. Members should be upbeat as this cautions their savings and gives them options and reduce their risk.

Increase your deposits with Quick Fix Offer

We are well aware that a number of our members may have a challenge with the ×3 deposits multiplier factor. We have therefore responded with provision of the Quick fix which allows you to increase your deposits with up to 100% at only a one off commission of 5% as long as you have the ability to repay. You benefit as your deposits multiplier increases thereby access more funds and the new deposits also eligible for rebates at the end of the year.

Mobile Based Short Term Loans

For all your short term needs, we have availed the Kona advance which can be accessed as many times as possible in a month provided it is promptly repaid. Remember it is your responsibility as a member to ensure you repay your Kona loan to avoid cases of savings deductions, the Sacco shall however ensure you receive timely SMS alerts/ reminders on the due dates. Moreover, the Emergency loan is always at your disposal to help you deal with any form of emergency needs at a convenient repayment period of 12 Months!

Loan Delinquency Management

In as much as we have availed several products and services at our members disposal, the key element still remains; Loan servicing. I would wish to urge all our members to help safeguard the Sacco’s biggest assets I.e. the loan book. First by ensuring that we pay our loans promptly and secondly as guarantors; confirm regularly the status of the loans that you have guaranteed! Any status that is different from performing should trigger an alarm.

Over the past one month, we have been engaging a few of our members whose repayments are not up-to-date. This exercise is not Ill advised, It is a deliberate move aimed at ensuring high quality of our loan book, in case you have been affected, we urge you to get in touch with us in the earliest opportunity so that you may update your records. Members are also advised to guarantee only those borrowers whom they know and can locate them with ease in case of any eventuality. It is a very painful process, repaying a loan for someone but since the guarantor policy is very clear, the same is unavoidable.

In conclusion ….

As we move towards the last quarter of the year, I would wish to reaffirm our commitment and total dedication towards serving you. We are already engaging in several activities all aimed at improving efficiency and service delivery, with your Support our match towards excellence is unstoppable. We urge you to patronize as many of our products and services as you can. God Bless you all.