Capital Sacco shall continue to be guided in its operations by the following Co-operative principles:-
. Open and voluntary membership . Democratic member control . Economic participation by the members. . Autonomy and independence. . Education, training and information. . Co-operation among co-operatives . Concern for community in general.
Founded in 1970’s
The Capital Sacco drew its members from farmers belonging to various primary marketing societies who were mostly from coffee and tea farmers.
Capital Sacco is offering savings and credit services to its members to undertake economic activities to improve their income and welfare.
On 3rd February 2005 following the split of the giant Meru Central Farmers’ Co-operative Union (MCFCU) into independent business units, the Union Banking Section was transformed into a Rural Sacco and was duly registered under the Co-operative Societies Act as a legal entity.
During registration it was called Meru Farmers Sacco but the name was later changed to Capital Sacco in the year 2012 after rebranding.
Capital Sacco is run by 7 directors elected directly by members at the grass root levels. The Society uses delegate system whereby 50 delegates attend General Meetings. There is a Supervisory Committee of three members elected from the three regions.
. A person of 18 years and above, of good character and of sound mind
. Must have a minimum share contribution
. Individuals or organizations who open accounts with the SACCO
How do you become a member of Capital Sacco Limited?
. Fill membership application form
. Pay a registration fee of ksh 200/=
. Have a minimum of 30 Capital SACCO shares, worth Kshs. 3000/=
. Continuous accumulation of shares
Benefits of being a member
. Provide a system whereby a member will be able to accumulate his life savings in form of shares.
. Get access to easy and affordable credit.
. Participate directly in the affairs of the SACCO e.g meetings.
. Get dividends at the end of the financial year of the SACCO.