INTRODUCTION

BACKGROUND

background information of the Sacco

G-Iinue youth enterprise saving and credit co-operative society is a Sacco whose members are drawn from various organization/institutions within the country which doesn't exercise Sacco services to it employees.
it's main offices are situated at 2rd floor of clairbourn towers R4 in thika town with it in-plant offices to be opened in various towns within the country.

 ABOUT
The objective for which the society is established are to promote thrift among its members by affording them an opportunity for accumulating their savings, and to create there by a source of funds from which loans can be made available to them exclusively for provident and productive purposes, at fair and reasonable rates of interests, thereby enabling them to use and control it for their mutual benefits.

The members therefore save money on a monthly basis in the form of shares. The money saved enables members to borrow loans form society towards development,business venture and expansion,school fees for their children and also in case of emergencies like hospitalization or death. The interest rates charged on these loans are much lower than the going rates in the banks and hence affordable. The period given for repayment is also convenient and comfortable for the member.

Goals and objectives

a) To promote the economic interest of its members in accordance with the co-operative principles, and in particular;
b) To promote thrift among its members by affording them an opportunity for accumulating their savings, and to create thereby, a source from which loans can be made to them exclusively, at a fair and reasonable rates of interest, and to provide the opportunity

to use and control their money for their mutual benefit.
c) To raise funds by accepting deposits and by contracting for loans from members and non-members upto a maximum amount fixed by the general meeting.
d) To lend money to members for any purpose directly concerned with their economic development on such terms and with such surety as shall be provided by the society’s policies and procedures set by management committee and approved by the general members and guided by the society’s financial capacity.
e) Do all such things, as are incidental to or necessary for the attainment of any or all foregoing objects for the society.