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Objectives PDF Print E-mail

The main objective of the society is to enable members (with a common bond) to save and borrow for development. It is compounded by the Motto: Save Regularly, Borrow wisely and Repay Promptly.

The objects for which the Sacco is established are to organize and promote the economic and social interest of its members in accordance with Co-operative principles and more particularly to:-

  • Promote thrift among its members by affording them an opportunity for accumulating their Savings and deposits and to create thereby a source of funds from which loans can be made available to them for purposes of providence or production or both at a fair and reasonable rate of interest.
  • Provide an opportunity for each of its members to improve their respective economic and social conditions.
  • Offer the members complimentary savings and credit services and other financial products such as front office service or withdrawable savings/deposit accounts as maybe required by members from time to time.
  • Ensure safety and soundness of the members' funds through risk management programme or any other appropriate insurance scheme.
  • Ensure progress of its members by educating them continuously on proper use of credit.
  • Perform all those functions and exercise those powers designated for Savings and Credit Cooperative societies under the applicable law for the benefit of members.
  • Cooperate with other cooperatives in order to promote members' interest and in furtherance of this object, the Society may affiliate to National Co-operative Organizations and other approved relevant organizations and institutions.
  • Perform within the relevant law (The Act, the Rules) and these By-laws, all those acts, deeds and things necessary to further enhance, promote or encourage any or all of the foregoing purposes and objects provided that such acts, deed and things are approved by the Annual General Meeting.