Imarisha Sacco explains why dividends were deducted

Imarisha Sacco has today issued a statement to clarify why dividends issued this year had deductions. Members had raised concerns about their dividends being deducted without any communication, or having a loan default. 

Imarisha Sacco Dividend Deductions - Reasons

We wish to address the concerns raised regarding the recent dividend deductions.

First, we want to assure you that every decision made by the Sacco is aimed at ensuring the sustainability and prosperity of our members. The deductions in question were not arbitrary but were made in accordance with our established policies and regulations. The system automatically deducts.

The deductions attributed to "back office dormant accounts" refer to accounts that have not met the minimum contribution threshold of 12,000 per annum. We encourage all members to actively participate in the growth of the Sacco by meeting this requirement.

The deductions related to "loan delinquency" are aimed at addressing the challenge of non-serviced loans within our membership. We understand the importance of timely loan repayments in maintaining the financial health of the Sacco and ensuring equitable benefits for all members.

We appreciate your understanding and cooperation on this matter. Should you have any further inquiries or require clarification, please do not hesitate to reach out to us directly.