OUR HISTORY
The Society was established and registered in 1974, and is registered under the Cooperative Society’s Act Cap 490 of the Laws of Kenya and issued with certificate No. CS/2234. The Membership is mainly drawn from the Office of the Auditor-General, Government Ministries and State Corporations.
We are hosted by our patron the Auditor-General of the republic of Kenya.
Our active membership stands at about 1,600 mainly drawn from the Office of the Auditor-General, Ministry of Finance, Kenyatta national hospital, Ethics and anti-corruption commission among other Ministries, State corporations and Commissions.
The Society has experienced tremendous growth, and as per the audited accounts for the year ending 31 December, 2016 had assets totaling Kshs:1,216,209,125 and Dividends rate was 13.5%.
Members who join pay up share capital of Sh.2000 and joining/entrance fee of 2000.
OUR VISION
To be the leading player and most reliable SACCO providing quality, affordable and accessible financial services to its members.
OUR MISSION
To develop and diversify members financial ability by providing a range of personalized advisory and financial services thereby building an economically empowered community.
OUR objectives
The overall objectives of the Society are:-
- To promote thrift among its members by affording them an opportunity for savings. This in turn creates a pool of funds from which the Society extends loans to its members at fair and affordable rates of interest.
- To provide welfare services to its members including the operation of a Burial Benevolent Fund and Christmas Scheme.
CORE VALUES
Ukaguzi Mission will be achieved through the incorporation of the following corporate values into everyday life of the Society and these values are therefore the operating principles which all stakeholders are expected to recognize visually, emotionally and physically for every service received from Ukaguzi SACCO.
Members
- Members are our most valued customers and stakeholders.
- Member focus on service delivery
- Timely responsiveness to member’s needs.
Corporate awareness:-
- Zero tolerance on corruption
- Transparency in all fund operations
- Equality in service delivery
- Stand by co-operative spirit
- Collective recognition of human rights
- Good corporate governance and visionary leadership
Fundamental in work culture:
- Honesty
- Hard work
- Teamwork
- Supporting each other
- Performance oriented
- Non-discrimination.
General laws of the land and by-laws:-
The SACCO will strive to operate within the laid down laws of the land and the Society’s by-laws.
Staff:
The Society stands to have and maintain qualified and motivated staff.
Library Research on SACCO Practices: –
to enhance innovation and best practices.
SAVINGS
Its interest rate changed from 15% to 13% P.A. Thus its interest P.M changed from 1.25% to 1.08 % effective May 2017.
LOANS
Its interest rate changed from 15% to 13% P.A. Thus its interest P.M changed from 1.25% to 1.08 % effective May 2017.