Friday, November 01, 2019

Mwalimu National Increases Advances Against Dividends After Member Complaints

    November 01, 2019   No comments

Mwalimu National sacco dividends

The National teachers' chama, Mwalimu National Sacco has announced that from 1st November and onwards, members will benefit fully on matters concerning their dividends after coming up with a revised computation formula. 

The sacco seemed to have been issuing smaller amounts as advances against member dividends which gave rise to complaints from  members especially big shareholders.

Through a  Facebook update, the Sacco on Friday addressed members as follows;

Good Morning Members,
You are the heartbeat of every decision we make.
You spoke, we listened.
We have reviewed our computation of advance against dividends, which will be paid as from today 1st November,2019.
Let us continue shaping tomorrow,together.

Now Mwalimu National sacco members will be allowed to take up to 50% of the dividends as advances as per the new computations as from 1st November 2019.

This was communicated through a letter dated 31st October , 2019
Check the photo below;
Mwalimu National sacco addressed members on matters concerning dividends


Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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