What do you mean by Savings and Credit Cooperatives ?
Savings and Credit Co-operative (SACCO) is a type of co-operative whose objective is to pool savings for the members and in turn provide them with credit facilities. Other objectives of SACCOs are to encourage thrift amongst the members arid also to encourage them on the proper management of money and proper investments practices. Whereas in urban areas salary and wage earners have formed Urban SACC0s, in rural areas, farmers have formed Rural SACCOs. There are also traders, transport, jua-kali and community based SACCO’s.