Umwalimu Sacco defaulters must pay

Editor, RE: “Umwalimu SACCO cuts credit limit for teachers by 50 per cent” (The New Times, December 27).

Editor,

RE: “Umwalimu SACCO cuts credit limit for teachers by 50 per cent” (The New Times, December 27).

 

This is a means to increase the interest rate from Umwalimu Sacco, which has been among the lowest so far. The money should be recovered without infringing on other members’ rights.

 

After all, apart from the lowest interest rate, what other benefit do members get from the Sacco? Let those who borrowed the money paid it back.

 

The changes in the lending system which is said to reduce risks...are a ploy to infringe on Sacco members’ rights. Why has there been such huge defaulting? Let this amount be recovered by every means.

Alex Barigye Kabuto

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