Sacco Deposit Protection Fund
“Cooperative leaders have agreed to operationalize the long-awaited Deposit Protection Fund, a legal provision that had remained dormant for years; the fund, to be managed within CIC Insurance Group, will act as an insurance mechanism to protect members’ savings in the event of a Sacco collapse; while our focus is on preventing failures, we must also safeguard members against unforeseen circumstances, as the Deposit Protection Fund will enhance confidence and ensure that members’ hard-earned savings are secure.”
~ Daniel Marube, CEO, CAK.
