Members of the Kitui Teachers Sacco on Saturday shot down a proposal to adopt a new name to have a national outlook.
Chairman Anthony Mbiti told members the name is an impediment to the society’s growth.
But most members opposed the move during the AGM at the Kitui Multipurpose Training and Development Institute.
Mbiti’s promise of improved dividends did not appease the members to agree to changing the name.
Joseph Mbwika, a member, said changing the name will make the sacco lose its identity.
Nzioka Kawembe said Barclays Bank and the Bank of Baroda are foreign names but this has not affected business.
Mbiti said the change would see the sacco pay dividends of 13 and 14 per cent, up from the current 11 per cent.
The discussion on the matter was shelved.
The sacco realised member deposits of Sh2.1 billion in 2015.
Mbiti said in 2014 member deposits had closed at Sh1.8 billion.
