ActionAid Sacco derives its core business from the By-laws, which is aligned to the provisions of the Co-operatives Act. The objects of the Sacco as outlined in the by-laws are, among others, to:
To promote thrift among its members
...by affording them an opportunity for accumulating their savings and deposits and providing them with credit exclusively for provident and productive purposes, at fair and reasonable rate of interest; thereby enabling them to use and control their money for their mutual benefit
To promote personal socio-economic growth
...through the introduction of new products and services.
To anticipate members’ demands
...hence develop complementary savings and credit services and other financial products as may be required by the members from time to time.
To ensure safety and soundness of member funds
...through a Risk Management Programmer or appropriate insurance coverage.
To ensure progress of members and SACCO
...through continuous education programs on savings and proper use of credit, reduction of poverty, human dignity and co-operation.
To perform the functions and exercise the powers designated for SACCOs
...under the applicable law for the benefit of members.
To invest funds in financial institutions or real estate
... with approval of the Annual General Meeting provided that such investment will enhance SACCO liquidity.
