Trans-National Sacco to go after loan defaulters

By Kephas Ayiecha

Trans National Times Sacco has warned of stern action against Sacco members who default on loans.
Sacco Chairman, Christopher Nyongesa (pictured) said the defaulters had caused the society to fail to implement its projects and risk being overtaken by others.
Nyongesa noted that as a result, some faithful members who had acted as guarantors for some loan applicants, had been punished and denied access to more loans.
The Chairman revealed that some notorious members had even involved students who innocently acted as guarantors and thus defrauding the society.
The Chairman warned that such members would be blacklisted and their names forwarded to the Credit Reference Bureau.

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