An almost similar scenario was replicated with regard to 47-NWDT saccos whose membership declined last year, adding to 2022 when 18 of them had lost 1,719 members. This translates into a cumulative loss of 2,166 members over the two years period.
Any time a member of a regulated sacco exits through withdrawal of membership, the affected sacco is statutorily bound to refund the members any deposits or savings owed, less any obligations owed by the exiting member.
Sixty saccos shed Sh970 million deposits last year as members quit triggering sector regulator to ask management to cut thousands of apathy driven exits, which are imperiling stability of the cooperative movement in Kenya.
The Sacco Societies Regulatory Authority (Sasra), which polices deposit-taking (DT) and large non-withdrawable deposit-taking (NWDT) saccos, said the fall in deposits came in a year affected entities lost 131,590 members through exits..
