The sacco has been facing a banking systems outage for the past three months, rendering it impossible for members to deposit money or check their account balances.
The situation was further worsened by the recent announcement of dividends which have yet to be fully disbursed.
Customers have taken to social media to vent their frustrations with the sacco, with many claiming that the system outage is a deliberate attempt by the management to hoard dividends for a little longer.
Some members reported that their dividends were forcibly rerouted to other accounts without their consent, while others have been unable to access their prime accounts to withdraw their funds.
The lack of transparency and accountability from the management has left many members feeling helpless and uncertain about the future of their deposits.
“Some of us have been members of Stima Sacco for years, and this is the first time we have experienced such a crisis. It’s worrying that the management is not giving us any clear direction on the matter,” said one frustrated customer.
In response to the growing panic among members, the sacco’s management issued a statement on Wednesday, which many have criticized for its vagueness.
The statement attributed the system outage to the high traffic witnessed on their channels and branches since the announcement of dividends.
The sacco, however, assured members that they are in a sound financial state and are working tirelessly to optimize their system to better serve their esteemed members.
The statement has done little to assuage members’ fears, with many feeling that the sacco’s management is not taking their concerns seriously.
Members are still reporting difficulties accessing basic services like depositing money and checking their account balances, even as the panic withdrawals continue to increase
The sacco’s silence on the matter has left many members in the dark, with no clear direction on what the future holds for them.