The principle of a Savings and Credit Co-operative (Sacco) is to encourage members to save part of their earnings, and through a pooled mechanism, borrow loans to meet various needs. Each member of the Sacco is required to contribute a minimum contribution of Two Thousand Shillings (Kes. 2,000/-); which form the deposits of the member. Such deposits earn interests that are distributed after every Annual General Meeting (AGM).
In order to ensure multifaceted approaches to strengthening the culture of saving among members Faidisha Wanabiashara Sacco has developed and is currently managing Four types of Savings Schemes – two for members and one for their children. This is also to enable the future membership of FAWA (members’ children) start inculcating a saving culture at an early stage.