Is it a scam saving in a sacco?

Huyu doesn't know what he's talking about. I am a stima sacco member I withdrew all my deposits to 0. The deposit account account was closed and I had to reactivate the account again to start saving. Shares is what you cannot withdraw but deposits unaweza chukua zote.

Once had 570K in shares at a sacco of my choice. I earned me a dividends of 60K. Banks don't have this. Plus many more .....

Microfinance was hijacked by greedy pple it wasn't meant for loans but for legitimate biz grants by communities like gofundme..

Just because you don’t understand how things operate does not make them scams. - He clearly mentions the loan taking mode of operation. - Saccos are not for direct savings. You already have banks for that. They are just grown up chamas.

Banks get rich while your savings shrink. Safe doesn’t build wealth your money in the bank is their profit, but your money invested is your freedom. Stop letting inflation eat your savings. Don’t just save. invest wisely.

You are such a liar

Buy bare minimum Shares in a Sacco, have enough Deposits Savings to earn you dividends and guarantee yourself some loans...After you're done with SACCO, withdraw all your deposits and do something else e.g government bonds and such.

The sharecapital in saccos earn you dividends annually which is more than what banks offer..

Huyu anaeneza uvumi na ujinga sababu ana mda, rununu ya kushika video na vifurushi vya data.

💯% true. If you don't know the meaning of a pyramid scheme kindly Google. The similarities ya pyramid scheme na sacco is crazy. You buy shares, the more you invest the more you earn, find someone else to dupe when exiting to get your full refund.

You can’t compare interest rate ya sacco @ 12%pa na ya bank @ >20%pa. Anyhow the choice is yours.

Kwanza Afya Sacco.. Is a no go zone.. Ogopa. Ukiwithdraw huko unakaa 5 to 6 months kabla wakupee doo yako

Very clueless, likes chaser. I am a Banker and advise you to go for sacco for easy Growth. just learn thier terms, comply and succeed

According to me saccos are nonsense, na unaUngushwa na pesa yako

Only a fool joins a Sacco without knowing anyone. Most infact join from referals. Saccos are a great way to save and acquire cheap credit for investment. Infact from experience most borrowers are limited by their ability to repay loans but not by guarantors

I would rather save in a sacco and forego the share capital which does not go beyond 5000 and withdraw less that amount than not saving at all at thr bank it's tricky easy access zero savings

Huyu msee sounds wise kwa wenye hawako na information. Even banks utaeka pesa utapea imereduce due to charges. MMFs or FIF will help more than saccos and banks. @ZimeleAM

The difference is that saving in a bank you can withdraw your money without necessarily taking a loan while in a sacco you can only access your money inform of a loan or after writing to resign then wait for 60 days.However,sacco has better rates than bank if you take a loan.

This Guy as Little information about operations of Sacco when it comes to loans.There no better institution where you can access Loan easily like Sacco especially when you have security(log book or tittle deed)

Very well articulated ignorance.

The reason I don't trust saccos is because the risk is shared. I know I seek to minimize risk on my part but I don't trust other members do the same

Wacha tu pesa yangu ikae @StanbicKE

Conmen sacco

Sacco's are a better devil. Bank loans are way too expensive.

Kuna sacco inaitwa FEP ,waah it was a scam tu.

You're the scam

Very true

Huyu haelewi kile anasema. SACCOs have numerous advantages over banks

@TheAbojani how true is this.? Hata nme ogopa mambo na sacco kabisaa

@grok what is your take on this?

Poleni kwa kucheza piano hapo mbele..ni mistake, niliangukia hio piano ikatoa sounds

Mkisii mweupe hivi issa scam 🤪

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