Members of the Sauti Savings and Credit Cooperative Society (SACCO) have been urged to renew their membership in the Sacco when they retire from active employment in order to continue enjoying easy access to cheap loans for their personal development.
Sacco national chair Mr.
Elly Ndwigah said the law put in place by the Sacco Societies Regulatory Authority (SASRA) requires that each member withdraw all their shares from a Sacco after retiring but this does not deter a member from rejoining a Sacco in order to continue accessing cheap credit for self-advancement in retirement. "We will have products tailor-made for retirees, noting that they can no longer access loans from the Sacco the same way they did when in active employment," Ndwigah said.
He, however noted that such members will be guided by separate regulations set up by the Sacco for them since they no longer have the steady stream of income like before.
