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Saccos advised on how to net loan defaulters

Savings and credit co-operative societies (Saccos) have been urged to enlist with credit reference bureaus (CRBs) to help curb cases of loan defaulters.

Moses Kelwa, Business Development Manager at Metropol CRB said societies which are not listed with CRBs risk losing money should members default repaying their loans.

He said individual members also benefit as they are able to tell, upon inquiries with CRBs, credit worthiness of their peers before guaranteeing them loans.

Kelwa said this during Wi-United Sacco Education Day at Mahia-ini Primary School in Kabete Kiambu. Facilitators included Metropol Client Relationship Officer Hellen Karuri and Kabete Sub-county Co-operative officer Lucy Wairimu. Wairimu said Wi-United, whose chairman is Allan Kimani, with more than 500 members has offices at Wangige and Gathiga.

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