Education Committee

Our Purpose: The purpose of Grand Granite SACCO is to create a forum for savers and borrowers for a wide range of benefits

Our Vision: To make it possible for all members to build wealth and become economically independent.

Our Mission: To present opportunities to all members to contribute and utilize credit and other opportunities for self-economic development

Our Principles: Voluntary and open membership

Our Values:

  • Self-help, mutual responsibility, equality integrity, efficiency, innovation, professionalism, respect and equity.
  • We shall practice honesty, openness and social responsibility in all activities.

Our objectives: To organize and promote the welfare and economic interests of members.

The society shall undertake:

  • To promote thrift among members by affording them an opportunity for accumulating savings and deposits and thereby create a source of funds from which loans can be given to them, exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for their mutual benefit.
  • To ensure personal growth through the introduction of new products and services that will promote the economic base of the members.
  • To ensure progress of members and society through continuous education programs on proper use of credit, reduction of poverty, human dignity, and co-operation.
  • To apply the co-operative principles in order to promote members’ interests. In furtherance to the objectives, the society shall affiliate with the relevant National Co-operative Union and the Apex society.

Our motto: Transcending our Financial Goals into Greater Heights!

We are unique.

  • Our SACCO Committees & Management understand challenges and they are ready to apply their experience and knowledge to help all members far and wide overcome social economic challenges and build genuine wealth.
  • Behind the efforts is the desire to make the tools available through our SACCO that would see the members make positive advances economically.

Why you should join us

  • Access to researched investment opportunities
  • Opportunity to build cash reserves.
  • Best interest rates on loans for members.
  • Social Networking opportunities.

Eligibility

  • Has attained the age of 18 years
  • Is of good character and sound mind
  • Pays the entrance fee and share capital as prescribed in the by-laws.

How to join GGD SACCO

Individuals interested in joining GGD SACCO shall COMPLETE online membership application form and attach the following documents:

  • Copy of National Identity Card/Passport page.
  • A passport size photograph.
  • Payment of an entrance fee of Kshs 10,000 non-refundable and buy one share worth kshs 10,000

Other Requirements

  • Must buy and hold 10 shares of Ksh. 10,000 each or equivalent to Ksh. 100, 000 within 6 months or longer to gain full membership.
  • Member monthly contribution not received by the 5th of the subsequent month, will be subject to a 15% per annum for every month remaining outstanding
  • Refer to GGDS bylaws for more membership information.

Our Benefits

1. Buy shares

  • This is an opportunity to save money. Your money will earn you dividends.
  • We are pulling resources for investments and wealth creation. This is an outstanding opportunity to build savings, earn interest on your savings and dividends on your shares.

2. Loans

  • Loans are available at low/fair market competitive rates.
  • The money stays and works within the members.
  • You are guaranteed a loan depending on how much you have saved.

3. Investments

  • As a member, you are encouraged to own a property. For instance, a SACCO may decide to buy a piece of Land, subdivide it into smaller units, and sell it to members.
  • We are saving money while sustaining growth and social development together.

4. Savings

  • The SACCO will help you maintain a high saving discipline, which most people lack.
  • You will be assisted to develop a saving culture and be able to commit part of your disposable income for your future.

5. Networking This is an opportunity to network and share business ideas and experiences.

Membership Withdrawal

Withdrawal from society

  • A member may at any time withdraw from the society by giving at least sixty (60) days written notice to the committee.

Payment on cessation of membership

  • On cessation of membership, a person shall be refunded the following amounts:
  • Any dividends or interest due to him/her prior to the date membership ceased and
  • His/her shares less 10% of saving deposits, and any other sums held by the society on the member’s behalf after deduction of any sum owed to the society.

FAQs