State four reasons why a teacher would choose to save with a SACCO rather than a commercial bank

State four reasons why a teacher would choose to save with a SACCO rather than a commercial bank

ANSWER

  • ease to save since each saving comes through checking off system
  • easy to get loan. Processes are few and fast
  • Interest on loans are relatively lower
  • no security required for loans
  • members savings is secure since its insured.
  • incase of death loans are write-off and share doubled
  • Saccos offer many loans.
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