Page 44 - SACCO STAR ISSUE 43

SACCO INDUSTRY WATCH

Mr. David Rono, The Noble SACCO Chairman giving his Rono also sought the SACCO’s delegates to be ambassadors of the
remarks during the A.D.M institution, inform other members on the development to avert
being listed on the same.
“Loan defaulters will now have to face due listing
to the Credit Reference Bureau as the SACCO “Members should be aware that CRB listing is a risk mitigating
board has finalized submitting data to the CRB,” measure and each one of us should honour loan payment pledges.
added Rono. Blacklisting is not the way forward in business because it bars one
from financial access across lending platforms, even on occasion of
an emergency,” advised Mr. Rono.

Recently, the government has continued to adjust its policies,
including the rolling out of the SACCO Societies (Amendment)
2018, Bill that is in its First Reading in parliament to foster prudent
oversight and governance to the co-operative movement. Rono
asserted that Noble SACCO is in the process of reviewing its by-laws
to ease occasional revision.

The society that operates in its own building adjacent to the co-
operative bank of Kenya ltd along the Ronald Ngala Street in Uasin
Gishu was registered in 1977 with a membership of 674 and a
share capital of Ksh 56,000 at the end of that financial year and has
since grown in leaps and bounds.

The Noble SACCO Chief Executive Officer Mr. Isack Maru . Delegates of The Noble SACCO During the Annual Delegates Meeting

KORU Kisumu based KORU SACCO has “We experienced a challenge of members
SACCO urged its members to increase taking loans and not paying them back on
MEMBERS their savings in order to enable time which affected our surplus,” he said.
URGED TO the society to grow and offer 2017 was a tough year for KORU SACCO
INCREASE more services to members. which saw several members retire thus
SAVINGS reducing their liquidity and membership.
The SACCO’s member’s deposits stood
42| SACCO Star Magazine at Ksh 37.6 million, core capital Ksh 16 “We urge members of goodwill to be
million while the asset base stood at Ksh ambassadors to this SACCO so we can
70.4 million. be able to scale to greater heights, “said
Ondoi.
Speaking during the SACCO’s 40th AGM,
Maurice Ondoi, the SACCO’s chairman said The SACCO also held their elections
that the political climate that rocked the bringing on board a new crop of leaders
country last year starved the society on set to steer the organization forward.
liquidity and the loan uptake dropped.