Mwalimu National Cursed By teachers For 2020/2021 Financial Year

Mwalimu National Sacco has been in existence now for quite some time. The teachers have always been expressing their dissatisfaction when it comes to their monthly contribution and what they receive as dividends. Furthermore, when it comes to loaning, some teachers have got the hell of times since they don’t receive a sum of money which can help them steer their projects.

From the research carried out by the Newsyetu team, they have established that some teachers in the Sacco are trying to auction their shares to those who are willing to remain in the Sacco. When the Newsyetu team interrogated one member from the Sacco who sought anonymity, he told the team that he has Ksh. 20,000 shares with mwalimu National and wanted to sell them at Ksh. 15,000. When we asked for an explanation why he wants to sell the share, he told us that the dividends for this financial year that he and other members received last month were not commensurate to the amount they had invested with the Sacco. He told us that so many teachers complained over the same issue and others terming it as a waste of time and saving plan.

Furthermore, the team established that this time round the process of receiving dividends was mechanical as their USSD was not working citing that their system had developed a technical hitch. This escalated suspicion among the teachers as they saw this as one way of tampering with their dividends.

Some teachers whom we also met with have cited that the Sacco has been making deductions without the knowledge of the teachers from their salaries.

Back in 2019 November, the teachers stormed the Kisumu branch and demanded for the oyster of the branch leadership. But it’s like it’s a common trend in almost all the branches nationwide as the teachers are always expressing their dissatisfaction with the Sacco.

The Sacco had earlier on introduced motorcycle loans of which they agree with teachers the amount of money to be deducted, but the Sacco goes ahead to deduct more money than agreed, something that has angered teachers.

One thing teachers have always known or should know is that they own the Sacco and they have the sole responsibility to sack all the officers managing the Sacco if that is what will bring about sanity in the Sacco.

It was established that some teachers are working a modality of moving out of this Sacco as soon as possible and get a different saving plan/scheme which can help them achieve their saving plans.

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