SACCOs are member-owned and not profit-oriented. Their philosophy is “people helping people”.

The SACCO mechanism provides for the safety of members’ money i.e. controls and procedures, committees and reporting structures all provide for the safety of the members’ money.

Members have a voice in the running of the SACCO since they own the institution; Members receive dividends at the end of the financial year; Access to financial services is non-discriminatory and affordable Contribution to a positive community

Voluntary and Open Membership Democratic Member Control Member Economic Participation Autonomy and Independence Education, Training and Information Cooperation amongst Cooperatives Concern for Community

A common bond is a unifying factor (that which brings people together). Two types of bonds generally exist as follows: Community bond The bond exists where members are resident in a particular locality or neighbourhood. A community bond caters to all people within the community. Occupational or associational bond The bond provides for people of the same occupation or for those employed by a common employer or who belongs to the same profession. *Open Bond SACCOs can be comprised of both Community and Occupational Bonds.

A cooperative is an autonomous association of persons united voluntarily to meet their common economic and social needs through a jointly-owned and democratically-controlled enterprise/business.

A Savings and Credit Cooperative Society (SACCO) is a member-owned financial cooperative whose primary objective is to mobilise savings and afford members access to loans (productive and provident) on competitive terms as a way of enhancing their socio-economic well being. It is formed by people having a common bond.

Please see our list of affiliated SACCOs and our SACCO map. If you want to form a SACCO see Contacts.

Joining a SACCO is easy. Membership is open to all regardless of sex, race, religion or political affiliation. It is voluntary within the SACCO’s common bond. Each SACCO has a membership qualification process, common ones being that you are a member of a particular grouping or company, e.g. if you are a teacher or an employee of a particular organization, or if you belong to a certain community. Everyone from a Farmer to a CEO is able to join a SACCO!