We pile praises for Saccos and how they have helped advance financial security for many. And they have. Saccos are an excellent saving and investing vehicle. Most importantly, Saccos are not biased toward the ‘unemployed’ when it accessing credit.

However, one can never be too careful with financial institutions. You must always watch your money like a hawk, and this includes being ready to jump ship when an institution is exhibiting a lot of red flags. I am sure you have heard or read of Saccos in Kenya collapsing with millions of member savings. Many have lost their life savings in such rogue institutions. Although regulators are making efforts to regulate the industry, knowing when to leave a Sacco could save you before it is too late.

In today's episode, we explore some of the red flags you need to watch out for in your Sacco.

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