Democratic Structure

SACCOs are owned and controlled by their members and anybody may join as long as they fit the common bond requirement. Each member has one vote; no matter how much money he or she invests. The members then elect a Board of Directors, (always an odd number) consisting of the members, from which an Executive Committee is chosen. The Board appoints a Credit Committee and an Educational Committee.

The members also appoint an external auditor to ensure that their funds are managed properly. Each SACCO has statutes and executive authority is delegated to the Board. The Board decides on policy matters and implementation thereof by the various committees. A clerk handles the day-to-day running of the SACCO and as the SACCO grows, a Manager and other staff are hired.