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Outline five benefits that a Savings and Credit Co-operative society (SACCO) provides to its members.

Outline five benefits that a Savings and Credit Co-operative society (SACCO) provides to
its members.

Answers

Davis
i. Encourage members/help to save (big making regular contribution)
ii. Provide loan facilities to members based on member’s contribution.
iii. Members receive dividends based on their shares/they give dividends to
their members.
iv. Members are educated/advised on cooperative activities/their
rights/their obligations.
v. Some SACCOS have front office banking facilities/front office services
for their members.
vi. They give interest to their members.
vii. They charge low interest on loans.
viii. They insure member’s contributions/members loans are written off on
death.
ix. They give loans on easy terms/conditions.
x. Members savings/new contribution is doubled upon death of a member
Githiari answered the question on September 22, 2017 at 21:13

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