The Inspector General of Police J. M. Okoth-Ochola is impressed that Police Savings Association Ltd (PSAL) financial status shows that collective saving effort is the way forward in navigating tricky situations, meeting financial obligations and building wealth.
The IGP made the remarks during the Annual General Meeting of the SACCO held under the theme ‘enhancing personal savings for investment to propel development’ as the chief guest at Police headquarters in Naguru.
“By saving money, our officers can avoid unnecessary debts and relieves stress at work,” he said.
The IGP noted that the founders of PSAL realized that the resource envelope from the government cannot be adequate to address officers’ needs and started the SACCO.
“Similarly, the commercial banks’ policies with their bureaucratic and high-interest rates were hostile to accommodate our daily financial requirements. Therefore, they constituted this Association that exists to solely serve its members -owners, and not necessarily profits,” he added.