DAY TWO OF ONO AND COMSAVE OPERATION ‘PAY EXISTING MEMBERS’
Tuesday enters day two since Ono Savings and Credit Association and Comsave Credit Union reopened offices to members whose accounts matured in July, as directors continue calling for calm from the public.
Ono and Comsave have been directed to resume operations with existing members only for purposes of paying back the current membership on the revised 10 percent interest rates, compared to the initial 30.
This is in accordance with the plea of agreement which also directs the two institutions to pay all members within 12 months since 8th December, 2020.
Some Community Members on Monday stormed offices of the two institution offices to demand answers on the reduced interest rates.
However, Ono Director Isaac Mvula says he understands the concerns of the members, but clarifies that his organization cannot decide to revert to the old interest rates on its own.
Mvula adds that he feels for the saving members whose payments were due when the regulatory bodies suspended operations in July, 2020.
Others also want the institutions to pay them at once, but Mvula explains that it would be difficult under the current conditions