Metropolitan National Sacco Society Forced To Refund Savings

 The trouble-ridden Metropolitan National Sacco Society was at one time not only able to offer prompt loans to its members, but it was also able to refund members who wished to withdraw their shares with ease, not anymore. In 2021, a former member who wished to withdraw her shares from the Sacco was denied the chance to do so, with the management offering no response to her request. Ms Sylvia Naiputa was then forced by the inaction from the management of the Metropolitan National Sacco Society to (withdraw from the Sacco) she took up the case to the Cooperative Tribunal for assistance.

Ms Naiputa sought intervention through a claim dated 8th March 2021 in which she declared that she had actively been making contributions monthly as a member of the Sacco. But after she withdrew her membership, the Sacco refused to pay her shares equivalent to a sum of Ksh. 339,000 and dividends.

The management of Metropolitan National Sacco Society in a quick rejoinder dated 11th November 2021 denied the claim, they, however, admitted that she was a member of the Sacco; they, however, denied having received her withdrawal letter stating that her refund is slated for 16th July 2021. The Sacco further alleged that she was entitled to only Ksh. 314,000 and not Ksh. 339,000 as demanded. The Sacco however claimed that the share capital of Ksh. 25,000 was non-refundable.

By the time of writing the judgment on the 16th of July 2021, Sacco had not paid her. The judgment reads in part “To this end having considered the pleading, witnesses’ statements and documents. We enter judgment in favour of Claimant against Respondent for Ksh. 374,000 plus costs and interest from the date of filing suit” Despite the ruling, she hasn’t received her Ksh. 374,000.

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