Cak Ceo Marube Reassures Sacco Members: Your Savings Are Safe
By Admin Thursday, 9th July 2026
Photo courtesy: Photo courtesy
The Chief Executive Officer of the Cooperative Alliance of Kenya (CAK), Daniel Marube, has assured millions of SACCO members across the country that their savings remain secure and cannot be accessed by the Government, despite public debate surrounding the proposed Cooperatives Bill.
Speaking during a live interview on Radio Generation (RGK 88.8 FM) on Thursday morning, Marube sought to dispel widespread misinformation that has caused anxiety among cooperative members regarding claims that SACCO deposits could be used to finance government infrastructure projects.
The interview, aired on The People's Breakfast programme, focused on the topic "SACCO Savings vs Infrastructure Fund: The Cooperatives Bill Standoff." It provided an opportunity for the CAK CEO to explain how SACCO funds are managed and why members should remain confident in the safety of their savings.
Members' Deposits Are Protected
Marube emphasized that SACCO deposits belong to members and are managed by their respective SACCOs under established governance structures. He stressed that the Government has neither the legal authority nor practical access to members' deposits.
He reassured cooperative members that their money remains protected and urged them not to be misled by inaccurate information circulating on various platforms.
According to Marube, members themselves determine how their SACCO resources are invested through democratic decision-making during Annual General Meetings (AGMs). Investment decisions are therefore not imposed externally but are made by members through the governance structures of their own cooperative societies.
"The members have the power to decide where their money in SACCOs gets invested during AGMs," he explained, adding that SACCO management and boards implement decisions approved by members in accordance with cooperative principles and the law.
Government Cannot Access SACCO Savings
Addressing the central concern surrounding the ongoing debate, Marube stated categorically that the Government cannot simply access or borrow money from SACCO deposits.
He explained that cooperative savings remain under the control of individual SACCOs and their members, making it impossible for any external institution to appropriate those funds without the authority of members themselves.
Marube further observed that if there were ever any attempt to interfere with members' deposits, Kenya's cooperative movement would strongly defend the interests of its members.
He noted that the cooperative sector represents millions of Kenyans and remains united in safeguarding members' rights and financial interests.
His remarks were intended to reassure cooperative members that their savings continue to enjoy legal and institutional protection under Kenya's cooperative framework.
How SACCO Funds Actually Work
To further clarify the issue, Marube explained that the perception that SACCOs hold large amounts of idle cash available for borrowing is inaccurate.
He pointed out that much of the money deposited by members is actively utilized within SACCO operations, primarily through loans issued to members.
In many SACCOs, members are able to borrow amounts several times greater than their accumulated savings, meaning that member deposits are continuously supporting lending activities rather than sitting idle in bank accounts.
This lending model enables SACCOs to promote financial inclusion, support business growth, facilitate home ownership, finance education and meet other financial needs of members across the country.
As a result, there is no readily available pool of unused funds that could simply be redirected elsewhere, as has been suggested in some public discussions.
The Importance of Accurate Information
Marube acknowledged that recent discussions surrounding the Cooperatives Bill have generated significant public interest, with differing interpretations emerging on social media and other public forums.
He encouraged cooperative members to rely on verified information from official sources instead of unverified reports that may create unnecessary concern.
The CAK CEO emphasized that informed public discussion is essential whenever policy proposals affecting the cooperative sector are under consideration.
He noted that providing factual information helps members understand ongoing legislative processes while preserving confidence in Kenya's cooperative movement.
Protecting Confidence in the Cooperative Movement
The cooperative movement remains one of Kenya's most important economic pillars, bringing together millions of members through Savings and Credit Cooperative Organizations (SACCOs), agricultural cooperatives, housing cooperatives, consumer cooperatives and other cooperative enterprises.
For many families, SACCOs provide affordable credit, encourage savings, create employment opportunities and support investment in education, agriculture, housing and small businesses.
Public confidence is therefore fundamental to the continued growth and stability of the sector.
Marube's remarks sought to reinforce that confidence by assuring members that the governance systems within cooperatives remain firmly anchored on democratic participation, accountability and member ownership.
He reiterated that cooperative societies exist to serve the interests of their members, with key decisions being made collectively through established governance structures.
CAK's Continued Commitment to Member Advocacy
The Cooperative Alliance of Kenya continues to play a central role in representing, promoting and protecting the interests of cooperatives across the country.
As the national apex organization for Kenya's cooperative movement, CAK remains committed to engaging policymakers, educating stakeholders and providing timely information on issues affecting the sector.
The organization's participation in public forums, including radio interviews and other media engagements, forms part of its broader commitment to ensuring cooperative members remain informed about legislative developments and policy discussions.
By addressing public concerns directly, CAK seeks to promote transparency while strengthening trust between cooperative leaders and the millions of Kenyans who rely on cooperatives for their financial well-being.
A Call for Unity and Confidence
Marube concluded by encouraging cooperative members to remain confident in their SACCOs and to continue supporting the cooperative movement that has contributed significantly to Kenya's socio-economic development for decades.
He urged members to seek information from credible sources and to actively participate in the governance of their cooperatives through forums such as Annual General Meetings, where important decisions concerning the future of their societies are made.
As discussions surrounding the proposed Cooperatives Bill continue, CAK reaffirmed its commitment to protecting members' interests and ensuring that the voice of the cooperative movement remains at the centre of national policy conversations.
The interview served as an important reminder that Kenya's cooperative movement is built on member ownership, democratic governance and collective responsibility. For millions of SACCO members, the message from the CAK CEO was clear: their deposits remain safe, their investment decisions remain in their hands, and the cooperative movement will continue to safeguard the financial interests of its members.