By Bonface Mulu
Kitui Teachers Sacco plans to reduce cases of loan defaults and has partnered with Trans Union to share credit information with other financial institutions.
The Sacco Chairman, Dr. Joseph Kithome , said the move would stabilize the Sacco as cases of loan defaults would be minimized and members with bad credit history planning to join the society would be rejected.
He said the society will soon launch agency banking and members will be able to access financial services especially where there were no branches. Members will also be able to transact business through the internet using smart phones and computers, he added.
Addressing members during the 41st Annual General Meeting (AGM) held at the Kitui Multipurpose Training Development Institute recently, Dr Kithome said the Sacco was seeking SASRA approval to make this possible, adding that the society was on the verge of introducing personalized cheques to members in partnership with the Co-operative Bank.
Vincent Marangu, the Head of Co-operatives Banking Division at Co-operative Bank who was the Chief Guest, urged members to attend AGMs