SACCO Committee

Establishment

The Committee manages the CF SACCO in compliance with the relevant rules and regulations that are guiding the cooperative societies in the country

The mandate and tenure of the CF SACCO Committee is normally for a period of two (2) years

Quorum

1. The quorum necessary for the transaction of business shall be three.
2. A duly convened meeting of the Committee at which a quorum is present shall be competent to exercise all or any of the authorities, powers and discretions vested or exercisable by the Committee.

Roles

1. Collects and remits members contributions to the CF SACCO’s account
2. To assist the society members to undertake income generating activities through provision of credit facilities.
3. To offer the members complementary savings and credit services and other financial services as may be required by members from time to time.
4. To raise or negotiate loans from financial institutions.
5. To ensure safety and soundness of the members funds through risk management program or any other appropriate insurance scheme.
6. To ensure progress of the society through provision of education training and information of the members elected officials and the employees.
7. To provide an opportunity for each of its members to improve his/her respective economic and social conditions through promotion of mutual help and self help among members.
8. To perform all those functions and exercise powers designated for SACCO societies under the applicable role for the benefit of the members.
9. To provide monthly progress reports to the CF Secretary General’s office