Msijali wadau, I am a member, have been for a few years, if I knew about them kabla nitoke campus some 10 years ago, my life would've been different hehehehe but God's timing is best.
Wewe hautaki kusave 😂, what do you mean skepticism buana? Your profits, the money you make from all investments from loans, mortgages, government bonds etc etc? That is revenue.
Can a member get credit with the payslip as the collateral? Like the civil servants, can they get loans with their payslip without necessarily using guarantors?
Hii nashuku your company needs to have some sort of MOU with the financial institution, lakini kwa sacco, savings is everything, mtu hawezi toka nje na kupata massive loans without savings, hiyo ni outsider amekuja kulala ndani ya biashara bila contribution 😂.
Acceptable loan securities include guarantors, title deeds, vehicle logbooks, member deposits, bank guarantees, corporate guarantees, endowment insurance policies, and shares listed in the NSE. Your payslip is also important to show proof of ability to repay the facility.
Payslip can be your source of cash. Collateral would be your shares or Guarantors. Payslip is not a collateral. A collateral is something you can sell to recover the debt in case of default. Your payslip cannot be sold.
No no Prof. Let the guest answer for himself. It still doesn't make sense why those CEOs are in Stimas board! Unless they were elected by members. That's the only way to be in a Sacco Board. Stima is NOT a Parastal.
Boss, kila biashara iko na constitution that governs it, for sure there is no way KPLC and Kengen guys started such a profitable institution and then let go of the reigns completely, that would be madness 😂😂😂. Those guys wholly bank na Stima Sacco, their salaries, their loans, their check off, their allowances. Whether we like it or not, energy sector was the root of the sacco and they really need to have a level of control. Saa hizi ndiyo sacco imebranch out from being too reliant on the energy sector, that's why income imeanza kuwa stable and income base has increased significantly. Lakini kama bank ndiyo your best option and you prefer their leadership style, more power to you, na kuna other saccos, Kenya is rich in options.
@@bobouistic Looks like you don't know the LAWS governing Saccos (explains why you're airing your opinions in public). Saccos are owned by members; and each individual member has only ONE vote, One Man One Vote; irrespective of how many shares or savings he has in the Sacco. These members vote in the members of the board. So unless these CEOs have been voted by the members, they have NO business being in the board. They are just members of the SACCO like that janitor or technician. Need I remind you, Laws (Acts of Parliament) are superior to rules.
@@bobouistic Any business constitution, by-laws, policies and procedures, rules... that contradict an Act of Parliament are __________? Null and Void, sawa?
@@josephsimba830 then please, vote out that RULE wise brother. Make the saccos operate as you believe they should, even police and mwalimu sacco have a mode of operation and all the wisdom you carry will not change that.
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Msijali wadau, I am a member, have been for a few years, if I knew about them kabla nitoke campus some 10 years ago, my life would've been different hehehehe but God's timing is best.
The kind of guest I would like to listen to, he sounds very humble and knows his job.
Stima sacco must be doing great
Are you a member of Stima Sacco
Eric is a dear friend of stima, 😅. you should have asked about the messed up technology platform
is there a deposit insurance for depositors for the sacco?
Member deposits are insured against death.
No. Saccos and Money market funds are not protected
The Sacco is doing great though the explanation of what is Revenue I cast my skepticism
Wewe hautaki kusave 😂, what do you mean skepticism buana? Your profits, the money you make from all investments from loans, mortgages, government bonds etc etc? That is revenue.
When it comes to finances these hosts don't seem as sharp. Anyway you cant compare an American union to a kenyan bank like really?
Can a member get credit with the payslip as the collateral? Like the civil servants, can they get loans with their payslip without necessarily using guarantors?
Hii nashuku your company needs to have some sort of MOU with the financial institution, lakini kwa sacco, savings is everything, mtu hawezi toka nje na kupata massive loans without savings, hiyo ni outsider amekuja kulala ndani ya biashara bila contribution 😂.
Actually you can
Acceptable loan securities include guarantors, title deeds, vehicle logbooks, member deposits, bank guarantees, corporate guarantees, endowment insurance policies, and shares listed in the NSE.
Your payslip is also important to show proof of ability to repay the facility.
Payslip can be your source of cash.
Collateral would be your shares or Guarantors.
Payslip is not a collateral.
A collateral is something you can sell to recover the debt in case of default. Your payslip cannot be sold.
No no Prof. Let the guest answer for himself. It still doesn't make sense why those CEOs are in Stimas board! Unless they were elected by members. That's the only way to be in a Sacco Board. Stima is NOT a Parastal.
Boss, kila biashara iko na constitution that governs it, for sure there is no way KPLC and Kengen guys started such a profitable institution and then let go of the reigns completely, that would be madness 😂😂😂. Those guys wholly bank na Stima Sacco, their salaries, their loans, their check off, their allowances. Whether we like it or not, energy sector was the root of the sacco and they really need to have a level of control. Saa hizi ndiyo sacco imebranch out from being too reliant on the energy sector, that's why income imeanza kuwa stable and income base has increased significantly. Lakini kama bank ndiyo your best option and you prefer their leadership style, more power to you, na kuna other saccos, Kenya is rich in options.
@@bobouistic Looks like you don't know the LAWS governing Saccos (explains why you're airing your opinions in public). Saccos are owned by members; and each individual member has only ONE vote, One Man One Vote; irrespective of how many shares or savings he has in the Sacco.
These members vote in the members of the board. So unless these CEOs have been voted by the members, they have NO business being in the board. They are just members of the SACCO like that janitor or technician.
Need I remind you, Laws (Acts of Parliament) are superior to rules.
@@bobouistic Any business constitution, by-laws, policies and procedures, rules... that contradict an Act of Parliament are __________? Null and Void, sawa?
@@josephsimba830 then please, vote out that RULE wise brother. Make the saccos operate as you believe they should, even police and mwalimu sacco have a mode of operation and all the wisdom you carry will not change that.
Members elect Delegates and the Delegates elect the Board. It is purely a democratic process.