KARUSCO Sacco Society Ltd. was established in 2012 and registered on 16th April, 2012 with the sole objective of uplifting the members’ social economic wellbeing. Its membership was drawn from staff of Karatina University based in Nyeri County the Sacco. The Sacco is now open to all members. KARUSCO Sacco currently only offers BOSA Services.
To meet the Sacco objectives of economic wellness, the Sacco started Christmas Savings. This is a product where members save monthly and this money is given back to the members in December for their Christmas holiday
The Sacco again took another step of planning to help members afford houses in the future at affordable prices. The Sacco started a housing scheme within the Sacco to grow into a housing cooperative in the future.
The Sacco created this product as an investment for the members. This is a product where members save monthly and the money saved earns interest daily subject to the period that the amount is fixed, the accumulated amount is given back to the members upon maturity period or member’s request.
Governance
Management and administration of the KARUSCO SACCO Society are carried out by a Board of Management as policymakers. There is also a Supervisory Committee comprising three elected members whose obligation is to supervise the Management actions and report findings to delegates during the Annual General Meeting.
The SACCO has two members of staff, an Accounts Clerk and an Assistant Accounts Clerk
