Avoid defaulting on loans, KUSCCO Director Alfred Mlolwa urges Sacco members
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) Director for Coast and North Eastern regions Mr Alfred Mlolwa has urged sacco members to avoid defaulting on their loans. Mr Mlolwa further explained that defaulting on loan payments weakens Saccos which could be detrimental to the economy.
Speaking during Lengo Sacco Annual Delegates Meeting (ADM) held at Lutheran Hall in Malindi town recently, Mlolwa told members to pay their loans promptly to enable others to benefit from loans. He added that paying on time and also saving would help members get a good credit score which would be beneficial in acquiring bigger loans hence implementing great projects.
Mr Mlolwa who is also the Qwetu Sacco, Chairman in Taita Taveta County, encouraged saccos to operate professionally and offer quality services to their members.
The Director also advised Saccos in the Coastal Region to aggressively market their Saccos products through the media, noting that the move would enable many people in the country to reach their products easily.
He lauded Lengo Sacco for achieving high strides of developments and urged other Saccos in the region to emulate it.