Effective and Efficient Service to Members.
Olkaunsel Co-operative Savings and Credit Society Limited (SACCO) was founded and registered in the year 1975 under the Co-operatives Societies Act, (Cap 490).
MEMBERSHIP
Since its inception, the sacco membership has grown from 18 to 600+ Members in 2019. The growth of the society is evident in Members' deposits, loans issued and annual turnover (as indicated in the Audited Accounts).
GOVERNANCE
The SACCO is governed by a board of directors elected by the members at an AGM held every year. The elected members serve for a period of three years subject to another election. A vote of no confdence can passed to any member of Directors who do not abide by the laws and regulations of the SACCO.
MEMBERSHIP
Since its inception, the sacco membership has grown from 18 to 388Members in 2019.
The growth of the society is evident in Members' deposits, loans issued and annual turnover (as indicated in the Audited Accounts).
GOVERNANCE
The SACCO is governed by a board of directors elected by the members at an AGM held every year. The elected members serve for a period of three years subject to another election. A vote of no confdence can passed to any member of Directors who do not abide by the laws and regulations of the SACCO.
The board administers the SACCO through various sub-committees which include:
Executive Committee
Consists of Chairperson, Vice-Chairperson, Treasurer and the Secretary.
Credit Committee
This consists of three non-executve members who are members of the management committee.
Supervisory Committee
This group consists of three non-executive members, whose main responsibility include:
- ~ Checking the general management of the society and General Resolutions of the SACCO.
- ~ Make sure that the society complies with the societies ACT, Rules and Regulations of the SACCO.
- ~ Investigate the affairs of the society including audit of its books among others.
Let’s talk about Membership and
Benefits
To be a Member:
- Must be 18 years and above.
- Must be of Sound Mind.