This archive report was first published on 7 October 2019.
October 7, 2019 - Members of Urithi Premier Sacco, associated with the embattled Urithi Housing Cooperative Society, have expressed their fears over its recent rebranding, claiming it was a camouflage to hide its tainted identity.
The rebranding, which saw the Sacco change its name to Anchor Premier Sacco during its Annual General Meeting (AGM) on Saturday, has left many customers questioning the move.
Chairman Pius Thuku Ndung'u stated that the rebranding was meant to allow new customers differentiate between the Sacco and Urithi Housing Cooperative, and to appeal to new customers seeking financial services.
However, many customers who are members of both entities have sought a refund of monies they spent in buying plots through the Housing Cooperative, citing difficulties in accessing loans and low dividend rates.
One customer, Moses Kisindi, a resident of Embu who bought land through the Urithi Housing, said despite paying Sh350, 000 two years ago at Ishiara area, they are yet to receive the land.
"We are losing our fortunes to the suspicious activities of these two entities. We call for investigations to prevent them from doing harm to many to more customers," he said.
