Sacco changes by-laws to up service delivery to members

By

Apr 4, 2017
Share

By Richard Shichangi.

Butere Faida Sacco is set to introduce several amendments to its bylaws to help improve service delivery to members.
The society which was conceived from Butere Financial Services Association (FSA) has grown drastically to become one of the leading rural Sacco in western Kenya.
Addressing members at a meeting to approve the 2017/2018 budget, the society’s Chairman, Joseph Etemesi said they have to change the representation mode from membership to a delegate system.
The system, he observed was more efficient and economical as few representatives would be required to attend annual meetings, hence cutting down on expenses the society takes to maintain the big members.
He said the delegate system will also save on time as it will takeshort time to pass information to the few officials as opposed to the current system which requires that each member be reached.
Etemesi also asked members to increase their share deposit from KSh.2,500 to KSh.5,000 to improve the society’s capital base and improve services to members.
During the event, members also ratified their borrowing powers to four times which was adopted from FSA.The members also approved a budget of more than Sh3 million for the next Financial Year.
Chief Executive Officer, Benard Omukunda said the society has opened branches in four constituencies that is; Butere, Mumias, Khwisero and Lurambi and will soon be in the whole county before moving to neighbouring regions.
Mr Omukunda, however, noted that the Sacco still faces some challenges which are hampering its operation like loan defaults. He said the Sacco has engaged a debt collector who is doing the loan recovery for it. He, however, urged members to repay loans promptly to avoid expenses that come with it.

Leave a Reply

Your email address will not be published. Required fields are marked *