The objectives for which Egerton SACCO is established are to: –
a)Promote thrift among its members by affording them an opportunity for accumulating their Savings.
b)Create a source of funds at a fair and reasonable rate of interest.
c)Provide an opportunity for each of its members to improve the members’ respective economic and social conditions.
d)Offer to the members complementary Savings and Credit Services and other Financial Products as may be required by the
members from time to time.
e)Ensure safety and soundness of the members’ funds through a Risk Management Programme or appropriate insurance coverage.
f)Ensure the progress of its members by educating them continuously on the proper use of credit.
g)Promote economic planning and assist members to achieve sound development of their enterprises and economic activities.
h)Co-operate with other co-operatives in order to promote members’ interest and in furtherance of the objective, the society may affiliate to NACOs and any other such apex or International Organizations as may be determined by the Board and approved by the AGM.
i)Perform the function and exercise the power designated for Savings and Credit Co-operative Societies under the applicable
law for the benefit of the members.
j)For the attainment of the above objectives, the Society may do all acts and things that are permissible under the Act, the Rules and the SACCO By-laws, provided that members approve such act or things either specifically or generally at General Meeting.
k)The objectives of the Society shall generally be in accordance with the co-operative values and principles.