SAVING AND CREDIT COOPERATIVE SOCIETY (SACCOS) PROGRAMME
The ELCT/NWD SACCOS Programe started way back in 1998, but was formalized in year 2000. Initially ten SACCOS groups were established from the existed Bethania women groups. In the same year (2000) SACCOS Support Unit (SSU) was established in the diocese to mobilize, sensitize, organize, educate and advise people on the establishment of the SACCOS within the area of operations.The main goal is to contribute in enabling SACCOS groups in the rural areas to strengthen sustainable development through establishment of financial services at the grass root level under the umbrella of one micro financial institution.
Today (2014) ELCT/NWD has 42 SACCOS units sprees all over the nine (9) diocesan districts. Thirty eight (33) are in rural areas, and nine (9) are in urban/sub urban areas.
They are all at different stages of development. Thirteen (13) of them are so advanced that they provide from office services (FOS) that ismini-bankingservices located in rural areas.
Total capital at the end of 2013 was Tsh 2,358,145,000/= of which 90% are in loans.
The SACCOS system in the ELCT/NWD has more than 10,800 members. Women are 5386 and 5179 are men in 255 groups.All SACCOS are registered under the Government Cooperative Societies law (Act 2003 and Rules 2004). 20% of the SACCOS groups have permanent office of their own and the rest use premises but all have plans to build their own offices. Through their Annual General meetings each SACCOS has democratically elected its leadership with Board members ranging between 5 and 9 members. Also have Loan and Supervision communities and two officers (treasurer and the secretary). Each has by-laws for daily guidance and credit and savings policies for their operations. They issues loans to members at an annual interest rate of between 13% and 20%.
Through SSU work in mobilizing, sensitizing, educating and advising the SACCOS, there has been obvious achieving including:
Despite the mentioned achievements there is a lot of challenges including
To join all SACCOS groups under one Micro Finance Institution (MFI)
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