The once vibrant Kisumu Teachers Sacco now renamed Keystone DT Sacco has failed to attract new and retain members despite going through a rebranding process which cost the Sacco millions of shillings. A source at the Sacco cited poor leadership which embezzled funds leaving it on its death bed as the main reason. The issue has refused to fade away from the minds of the teachers despite the multi-million shillings rebranding.
Investigations reveal that it’s over one year since the rebranding but members continued to leave for other well-established and corruption-free Saccos within the region. Accusing fingers are now being pointed at the Sacco’s Chief Executive Officer Allan Ochieng Kawa who is facing accusations of not doing much to revamp the Sacco, now a pale shadow of its former self.
According to Sacco members, the management has done very little to market the rebranded Sacco to convince more members to join. Moves made by the management to market it outside Kisumu county have failed miserably.
Recruitment of new members has also failed as the Sacco’s majority members are retirees, while the few remaining active members continue complaining that they are still undergoing the same frustrations under the new management as was the case with the previous management.
They claim loan approvals are not prompt to the extent that some members had their children reporting to school late because their school fees loans had not been approved on time.
It is being whispered that Sacco is facing a liquidity problem occasioned by the low number of members resulting in low monthly income in terms of shares. Most of the members left and joined Mwalimu National Sacco, Taraji Sacco in Siaya County Bondo teachers Sacco.
