SIPEU loans

DEAR EDITOR, I have been waiting patiently for my loan for almost two months now. SIPEU keep on saying that next week, next week! I am left confused.

Please credit committee show some commitments to the people whom you serve. Enough of this $500 sitting allowance.

My saving should be rightly available for me when the need arises.

The fund has been there for many years and the construction of the box SIPEU house shouldn’t be an excuse for funds depletion.

Take for instance for every paydays (monthly) an average of $250 saving X 1000 workers equate to a quarter million SBD deposits excluding the 5 percent interest paid by members for their advances.

A general meeting for its members is yet to be done so as the financial status update of the saving.

This is people’s money and its dealings has to be disclosed to its rightful owners.

Where investments are made and returns are made must be made to its owners. This is another saving club like the NPF.

But the difference is that with NPF, Contribution are given electrically to its members, SPO returns are published and so forth.

I think SIPEU should be better off since individual investments on average is more compared to NPF, if I am right.

The credibility of NPF is through the strive by the workers themselves. Creativity and taking initiative to make a change in the organisation.

With SIPEU, the problem was created by taking on board incompetent workers. Are we employing this workers on merit basis?

We should only have one teller lady there to stamp and give out advances.

The rest should be well trained people who are vigilant in their hunt to grow the investment.

A manager who has the vision for the fund must be put in place before we encounter the similar fate of the police saving club.

All that is happening behind the SIPEU doors now is usual old fashion working style.

Even with simple desk customer service was lacking as well. Once I asked for the status of my loan and the reply was, “we give priorities for school fees”.

Where on earth did you take that answer?

I am loaning against my share. I have contributed over 10 years and this is what you have to tell me.

To conclude, an audit to the saving must be immediately carried out and financial statements must be made to the members.

Qualified people must be taken on board and rid-off the unproductive bunch.



Discover more from Theislandsun

Subscribe now to keep reading and get access to the full archive.

Continue reading