Navigating Challenges: Kenya Police Sacco wafts through storms to remarkable transformation

The Kenya Police Savings and Credit Cooperative Society, commonly referred to as Police Sacco, has assured its clients and customers that all its services are running as expected.

This comes after reports surfaced that a section of its customers had not received salaries in their accounts.

At the same time, customers had complained of a ‘worrying’ downtime on the Sacco’s digital Application, making it hard for them to make transactions.  

However, speaking exclusively to Mulembe News in Nairobi on August 7, Board chairperson David Mategwa allayed the fears, saying the App downtime was a challenge they experienced but their alternative USSD code had been working.

A visit to a banking hall of the Sacco also revealed that there had been no long queues of customers stranded over the downtime of the App.

At the same time, Mategwa assured the Sacco’s customers that their money was safe and that they had nothing to fear about their savings.

“Yes, it is true we had problems with our App. But our USSD code was working well so were ATMs and over the counter services,” Mategwa said during the interview.

Within the period of the technical hitch, he revealed that about KSh183 million had been transacted by customers using over the counter and via the USSD code.

Consequently, he revealed that those seeking loan facilities had been served and received their money without any glitch or delays, to their respective accounts.

However, he acknowledged challenges with salary payments, but explained that this was not from the Sacco’s side but mostly, a challenge from the employer’s side.

The government, being a major employer of the Sacco’s customers, sometimes has delays in disbursing money meant for salaries.

In most cases when this happens, financial institutions including banks and Saccos use their resources to pay their salaried customers before the government money matures.

Mr Mategwa, however assured customers that the Sacco was at its best in service delivery and should have nothing to worry about, since it has put in place measures to serve its customers satisfactorily.

“This esteemed institution, dedicated to serving members of the police force and their families, has grown to become one of the highest-rated Saccos in the country. The journey to this pinnacle, however, has been fraught with challenges that have only served to strengthen its resolve,” Mategwa said.

Regarding audit querries over some budgetary allocations, Mategwa said they had been blown out of proportion and that the institution had been given a clean bill of health by world renowned audit firms include KPMG and PricewaterhouseCoopers.

Under his leadership, Mategwa said that the Kenya Police Sacco has transformed obstacles into opportunities, setting a new standard for cooperative societies nationwide.

Founded in 1972, the Kenya Police Sacco was established to provide financial stability and support to its members, offering them a safe place to save and access credit.

The initial years were challenging, marked by limited resources and a nascent regulatory framework.

However, the Sacco’s commitment to its members’ welfare ensured its survival and gradual growth.

One of the primary challenges faced by the Sacco was the lack of financial literacy among its members.

Many police officers, engrossed in their demanding duties, had little time to focus on managing their finances.

Through workshops, seminars, and personalised financial counselling, the Sacco has empowered its members to make informed financial decisions, fostering a culture of saving and responsible borrowing.