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UN SACCO BY-LAWS BY-LAWS UNITED NATIONS CO-OPERATIVE SAVINGS & CREDIT SOCIETY LIMITED 1
UN SACCO BY-LAWS
BY-LAWS
UNITED NATIONS
CO-OPERATIVE SAVINGS & CREDIT
SOCIETY LIMITED
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UN SACCO BY-LAWS
BY-LAWS OF UNITED NATIONS COOPERATIVE SAVINGS & CREDIT SOCIETY
LIMITED
1. Name and Area of Operation This Society shall be called UNITED NATIONS CO-OPERATIVE SAVINGS & CREDIT SOCIETY LIMITED, hereinafter referred to in these By-laws as “the Society” and its area of operation shall be within the Republic of Kenya.
2. Registered Office and Postal Address The registered office of the Society shall be situated at United Nations Complex, Nairobi and its postal address shall be P.O. Box 30552, Nairobi. Any change of address of the Society shall be furnished to the Registrar of Co-operative Societies and to the members of the Society.
3. Binding powers of these By-Laws These By-Laws of the UN Sacco, shall, when registered, bind the co-operative society and the members thereof to the same extent as if they were signed by each member and contained covenants on the part of each member for him or herself and his/her personal representatives to observe all the provisions of the By-Laws.
4 Definitions and Interpretations a) In these By-laws, unless the context otherwise requires, words or phrases shall be
defined/ interpreted in accordance with the Co-operative Societies Act, of 1997 and the Co-operative Societies Rules 1998 made there under, hereinafter referred to as “the Act” and “the Rules” respectively and which term shall include their subsequent amendments.
b) “Board” means the Board of Directors elected at the Annual General Meeting c) “SACCO” means Savings and Credit Co-operative Society Limited d) “Tribunal” means the Co-operative Tribunal established under section 77 of the Act
to hear and determine disputes under the Act and Rules. e) “Commissioner” means the Commissioner for Co-operative Development f) “Institutional Capital” means and comprises statutory reserves, entrance fees,
appropriation accumulated account and any other reserve established by the Society’s committee for which there is no claim.
g) “Users” in the SACCO shall mean groups and other co-operatives who may from time to time carry out some business with the Society.
h) “Minors” shall mean persons who are not up to 18 years of age but who benefit from some of the services of the Society.
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i) Required amount (Provisions for loan losses) -The required amount is the amount, which is to be set aside as a contra asset, and is intended to be a provision for potential loan losses. The amount of the provision is based on the following formula: 15% of loan balance and have one to three payments in arrears; 35% of loan balance where the loans have four to six payments in arrears; 50% of loan balances where the loans have seven to twelve payments in arrears, and 100% of loan balances where the loans have payments in arrears in excess of twelve months.
j) “Members of the immediate family” when used in these By-laws, includes, but is not limited to the spouse, parents and children of each person eligible to be a member of the Society whether or not residing in the same household. The same term includes any other relative of any person or of the spouse of the eligible person if the person resides in the same household as the person.
k) Any questions or dispute concerning the interpretation of these By-laws on any matters not provided for therein, errors and omissions shall be referred to the Tribunal.
l) Words importing the masculine gender also descriptively include the feminine gender.
5. Objects The objects for which the Society is established are:- a) To encourage thrift among its members by affording them an opportunity for
accumulating their savings; b) To create a source of funds at a fair and reasonable rate of interest; c) To provide an opportunity for each of its members to improve the members
respective economic and social conditions; d) To provide members with credit for purposes of providence or production or both; e) To offer to the members complementary savings and credit services and other
financial products as may be required by the members from time to time; f) To ensure safety and soundness of the member’s funds through a Risk Management
Programme or appropriate insurance coverage; g) To ensure the progress of its members by educating them continuously on the proper
use of credit; and h) To perform the function and exercise the powers designated for savings and credit
co-operative societies under the applicable law for the benefit of the members. For the attainment of the above objects, the Society may do all acts and things that are permissible under the Act, the Rules and these By-laws provided that members at General Meetings approve such acts or things either specifically or generally.
6. Co-operative Principles In order to achieve the objects for which it is established, the Society shall practice the following co-operative principles:- Voluntary and open membership; 1. Democratic member control; 2. Economic participation by members; 3. Autonomy and independence; 4. Education, training and information;
UN SACCO BY-LAWS
5. Co-operation among co-operatives; and 6. Concern for community in general.
7. Membership in the National and International Associations a). The Society may become a member of the Kenya Union of Savings and Credit Co-
operatives, the Kenya National Federation of Co-operatives or any other national or international organization approved by the Annual General Meeting.
b). The Society recognizes the fact that such membership is vital for the safety of its transactions and in the interest of its members
8. Membership Eligibility A person of either sex shall be eligible for membership if he/she: a) Is within the field of membership, that is, within the common bond; “Common
Bond” shall mean any unifying factors that brings the members together. In this context it shall include all employees of the United Nations and other diplomatic missions and International Organizations in Kenya.
b) Is not less than eighteen years of age, if a natural person; c) Is not a member of another urban SACCO in the country; d) Is not directly or indirectly, a money lender, cash daily collector or carrying out such
activities detrimental to the objectives of the Society; e) Is of good character; f) Is an employee of the Society or a subsidiary of the Society; g) Is resident within or occupies land within the Society area of operation; h) Is in employment, occupation or profession which falls within the category or
description of those for which the Society is established; and i) Is a member of the immediate family of the primary member.
9. Membership Composition a) The membership of the Society shall consist of :-( i). Original members who signed
the application for registration; and (ii). New members subsequently admitted in accordance with these By-laws
b) The rights of members of the Society shall be determined and exercised in accordance with the applicable law, the By-laws of the Society and valid resolutions of the Board.
c) Any employee of the Society, and any member of the immediate family of any other eligible person may become a member of the Society in the manner provided in these By-laws, provided that-
(i) Users shall buy shares, make savings and /or deposits but shall not participate in the management of the Society.
(ii) Minors shall make savings and/or deposits but will not borrow or guarantee others, nor shall they participate in the management of the Society.
10. Membership Application Form Every applicant for membership shall complete an application for membership form in the form of Appendix A of these By-laws.
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11 Admissions into Membership An applicant shall be admitted to membership on fulfillment of the eligibility criteria (By-law 8) but shall not qualify for the rights and privileges of membership until he/she has paid an entrance fee of Kshs 500.00 or as determined by the Board from time to time and paid in full at least 100 shares of Kshs 100.00 each and a minimum monthly deposit of Kshs 1,500.00 or as stipulated by the Board. A member is also required to submit one passport size photo and a copy of the National Identity Card or any other authenticated identity. Upon admission to membership the relevant particulars of the qualified applicant shall be entered in the register of members.
12 Member Number A number shall be assigned to each member as a means of identifying his/her account with the Society.
13. Refusal of Membership The Management Committee may refuse membership to any applicant giving him/her reasons for the refusal in writing, provided that the person, whose membership has been refused, if aggrieved by that decision, shall have the right to appeal to the next General Meeting through a registered member. The decision of the General Meeting on the matter shall be final.
14. Membership Rights Subject to these By-laws, policies, standards, values and procedures, every member shall have the right to use the Society’s services and exercise the rights established by the Act, the Rules and By-laws. The members are entitled but not limited to:- a) Receive, periodically and regularly, or upon request, and at least once a year, a
Statement of Accounts containing the individualized record of his/her credit and debit transactions
b) Attend and participate at a General Meeting. Each member shall have one vote irrespective of the member’s total share holding.
c) Elect or be elected as officer of the Society unless otherwise prohibited by any other law or these By-laws;
d) Use the Society’s services according to the policies and procedures approved by the Board.
e) Submit projects to the Board for consideration for the improvement of the Society’s services; and
f) All other rights as prescribed by the Act and the Rules
15 Members Obligations In complement to the Act, members of the Society are obliged to;-
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a) Attend meetings and take part in decision making; b) Show good co-operative spirit; c) Inform non-members of the Society’s activities and encourage them to join; d) Bring out problems affecting the Society and look for solutions; e) Participate in the Society’s projects both physically and financially; f) Attend educational meetings and seminars organized by the Society or other
organizations approved by the Board; g) Make use of the services of the Society as stated in the objects of the Society; h) Comply with these By-laws, the Act, Rules and General Meeting Resolutions 16. Member Personal Account a) Every member shall receive a statement of account which shall contain full particulars
such as name, the Society membership number and Identification (I.D) number. A member’s Statement of Account showing the member’s savings and loan balances, shall be conclusive evidence that the person named therein is a customer of the Society and shall constitute a certificate of savings, unless it is proved otherwise.
b) For payment of members’ shares and deposits and for loan repayments, the Board shall direct that a periodic “Statement of Account” containing a record of every member’s transactions with the Society be sent to him not less frequently than once every six months.
17. Penalties a) Any member proven to have willfully acted in violation of these By-laws or
regulations made there under shall be liable to a fine not exceeding Kshs. 5,000.00 i.e. five thousand shillings not withstanding any other action that may be taken against him in accordance with the Act, Rules, these By-laws or any other law.
b) The Board of the Society shall have powers to hear and determine matters relating to any alleged violation of these By-laws by a member. Any member aggrieved by the decision of the Board may appeal to the Annual General Meeting whose decision shall be final provided this provision should not prejudice a member’s right to refer the matter to the Tribunal, if the issue constitutes a dispute.
c) Any penalty not paid within 30 days from the date it was levied shall be recovered from the member’s deposits
18. Spouse, Family Members and Employees Subject to the regulations under these By-laws, a spouse, family members and employees may also become members of the Society under the same terms and conditions as other members. 19. Nominees a) Every member may nominate in writing one or more persons in order of priority to
whom upon his/her death, his/her shares deposits or any other interest may be transferred. Appointment of a nominee by a member shall be in writing and signed by the member in the presence of two attesting witnesses.
b) Such particulars of the nominee(s) shall be recorded and kept in a sealed envelope to be safely kept in the custody of the Manager and whose particulars shall be entered in
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the register of members. A member may at any time change his nominee provided such change or alteration is in writing and signed by the member in the presence of two attesting witnesses.
20. Payment to Un-admitted Nominee a) If not admitted to membership, the nominee may be paid the value of the deceased
member’s shares or interest, less any sums due by the latter to the Society within 60 days upon receiving official notice of the death of the member. The nominee may also receive payments from Risk Management or any approved insuring programme.
b) Any dispute relating to nominees shall appointment of the administrator of the estate of the deceased
21. Voluntary Withdrawal
Members with no liability or outstanding obligations on their accounts and no outstanding collaterals or guarantees for other members’ loans may withdraw from membership at any time, without losing vested rights.
22. Notice of Voluntary Withdrawal
a) A member may at any time withdraw from the Society by giving 60 days’ written notice to the Society during which time the Society will settle the member’s accounts and refund the members shares if he/she has no outstanding liability with the Society.
b) In spite of losing their status as members, individuals who have withdrawn from membership but still have outstanding loan balances or outstanding guarantees for other members’ loans, shall continue being responsible for their respective obligations unless alternative arrangement, acceptable to the Society is made.
23. Cessation of Membership
Membership in the Society shall be terminated upon:- a) Voluntary resignation by the member; b) The death of the member; c) Expulsion from membership; d) Becoming certifiably insane; e) Acting contrary to the relevant provisions of the Act, Rules and By-laws; f) By vote of the membership at the next ensuing General Meeting following suspension
of a member by the Board any violation of these By-laws or conduct prejudicial to the Society’s interest; and
g) Withdrawing all his shareholdings 24. Suspension and Expulsion The Board may suspend a member subject to ratification or otherwise by the General Meeting if the member: a). willfully fails to comply or refuses to comply with the Society’s By-laws, policies and
contracts and persists in such refusal or failure; b). willfully defaults in the repayment of loans due or part of loans due for a period
exceeding six months;
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c). Fails to save regularly. In this case one is deemed a regular saver when he saves at least 6 times in a financial year;
d). Acts in any way detrimental or prejudicial to the Society’s interests or for other just cause;
e). Is convicted in court of a criminal offence involving dishonesty or imprisoned for any other offence for three months or more; and
f). For any other reason approved by the Annual General Meeting and/or as may be contained in the Society’s Code of Ethics.
25. Suspension and Expulsion Procedure a). Upon formal and written announcement and proof that a member has committed a
violation punishable by expulsion, the Board shall provide written notice to the member stating the reason/s for the proposed expulsion, and grant the member 30 days for the member to prepare a defense if any;
b). Upon expiry of the 30 days and taking into consideration the member’s defense, the Board shall initiate an administrative inquiry and take a decision on its findings within 15 days.
c). A member so suspended by the Board subject to ratification of expulsion by the General Meeting shall have the right to appeal at the next Annual General Meeting provided the notice and grounds of such appeal have been filed with the Honorary Secretary not less than 30 days before the date of the meeting. The decision of the General Meeting on such expulsion shall be final.
26. Payments Resulting from Withdrawal, Termination or Expulsion from Membership
a) Withdrawal, expulsion, or termination of membership will not exonerate a member from any existing personal or membership liability b) A member who withdraws or is expelled shall be repaid the following amounts after deduction of any debts owed by him/her to the Society as borrower, endorser, and guarantor or otherwise:-
(i) The nominal or book value of deposits, whichever is less; provided however, that the board may require a maximum of 60 day’s written notice of intention to withdraw deposits. (ii) Any dividends or interest due to him on the date membership ceased; and; (iii) Any other deposits or other sums held by the Society on the member’s behalf.
c). Members who voluntarily withdraw may re-apply for admission. In such
circumstances, the entrance fees will be doubled and a fine of Kshs. 2,000.00 levied if the application is approved.
27. Society Funds The funds of the Society shall consist of; a) Entrance fee of Kshs. 500.00 each or as may be determined from time to time by the Board;
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b). An unlimited number of un-withdraw able but transferable shares to the value of Kshs 100.00 each. Each member shall purchase a minimum of 100 shares or as may be determined from time to time by the Board; c). Deposits or loans from members; d). A reserve fund as required by law and such other reserves as may be established with the approval of the Board e). Any donations, grants or gifts from other bodies, organizations or individuals; f). Any surplus resulting from operations of the Society; g). Deposit Protection Funds; and h). Funds obtained from other lawful miscellaneous sources. 28. Application of Funds The funds of the Society shall be applied for the promotion of the stated objects and purposes of the Society as set forth in these By-laws and as determined or approved by the General Meeting of the members. 29. Shares a) The nominal value of each share shall be Kshs. 100.00 and every member shall hold at least one hundred shares in the Society, but no member shall hold more than one fifth of the total share capital of the Society. No member shall hold more than 5% of the total share capital.
b) The board may from time to time fix a minimum amount that may be paid towards the purchase of shares.
c) Any member holding in excess of the required minimum one hundred (100) shares may at any time transfer to another member the excess in full or in part. Such transfers must be in writing. d) Any member withdrawing from the society, voluntarily or otherwise, may at any time transfer the balance of their shares to another member. e) All transfers of shares must be registered with the General Manager, and no transfer shall be valid unless so registered. A fee of Kshs. 1,000.00 or as may be determined by the Board from time to time shall be paid to the Society by the transferee. 30. Liability of Members a) The liability of a member shall be limited to the nominal value of the shares held by the member. b) In the event of liquidation, where available funds are insufficient to pay the full
nominal value of the shares held by the members, the funds shall be distributed pro rata among the shareholders according to the amount of shares held by each.
31. Deposits a) Deposits to the Society made by a member through the Back Office Operations
shall not be withdraw able in whole or in part unless on resignation of a member. b) Deposits made to the Society’s Front Office Service Operations shall be withdrawn
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able according to the terms and conditions as provided by the Board. c) A member shall be required to give 60 days written notice of his/her intention to
withdraw his deposits. d) The board shall levy a penalty for any member wishing to withdraw his deposits
before the expiry of the 60 days. e) Lump-sum deposits in excess of the maximum eligibility amount must be approved
by the Board. 31. Power to Borrow a) Loans may be obtained from members and non-members, subject to the maximum approved by the Annual General Meeting, provided the amount does not exceed 20% of the total assets b) For the necessary security of any loans accepted by the Society under paragraph
(a) above, the Society may grant a charge over the assets of the Society. The authority to grant a charge shall be reserved to the General Meeting.
33. Receipting for Money Money paid in or out on account of shares, deposits, loans, interest, fees, or fines shall be evidenced by an entry in the members personal Account and issuance of an official receipt in the name of the Society. 34. Liquidity and Reserves a) The Society shall maintain a Reserve Fund as required by the Act and Rules. The
Reserve Fund shall be credited with at least 20%, or as directed by the commissioner or the Act, of the net surplus of each financial year. It shall also be credited with all entrance fees, and with recoveries of loans and other losses previously charged against the Reserve Fund.
b) The Society shall maintain liquid funds equal to 10% of the total assets. Liquid funds are cash and deposits with a maturity of not more than 91 days. The Board may increase liquidity from time to time to meet seasonal demands as they might arise.
c) Capital Reserve shall be held by the Society to fund the growth and to meet operational losses not related to loans. Capital Reserve may not be distributed to members except in the case of dissolution of the Society and after all of the losses have been provided for.
35. General Meeting The Supreme Authority of the Society shall vest in the General Meeting. Such meetings shall be held as follows:- a) The Annual General Meeting shall be held within 120 days of the close of the financial
year to hold elections and to undertake such other business as laid down in these By-laws;
b) Any business not completed at the Annual General Meetings, such as acting upon the auditor’s report (if not received by the time of the meeting), may be taken up at a subsequent Special General Meeting, or at the next Annual General Meeting;
c) A Special General Meeting shall be held;- (i) When convened by the Board or the Commissioner in accordance with
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Rule 25(1) (ii) Within 14 days of receipt of a written demand from at least 300 or one
fifth of the members whichever is the lesser.
36. Notice of Special or Annual General Meeting a) Except as noted above, at least fifteen clear days notice shall be given in the case of an
Annual General Meeting or a Special General Meeting. The General Manager shall take all possible and usual steps, such as announcements at public meetings, posting a notice on the Society’s notice board, placing an advertisement in the local newspaper or news-sheet, to inform all members of the date, venue and main business of the meeting. All written notices shall include a Statement of the business to be dealt with.
b) The notice of the Special General Meeting shall clearly specify all the issues to be discussed. The Special General Meeting shall deal exclusively with the issues for which it is convened
c) An Annual General Meeting or a Special General Meeting of members, convened solely for this purpose, shall have the exclusive power to amend the Society’s By-laws.
d) All meetings of members shall be conducted according to the procedures and rules of order approved by the Board.
37. Quorum Except when convened by the Registrar, the presence of at least 1/4 of the total number of members or 300 members, whichever is less, shall constitute a Quorum for the conduct of business at a General Meeting. When a Quorum is not attained, the Chairman shall adjourn the meeting, which shall be advertised as prescribed in By-law 36. If at such a meeting, a quorum is again not attained, the Chairman shall declare the meeting open with those present, one-half hour after the appointed time of the meeting.
38. Required Majority a) The motion to revoke a policy decision taken by the Board or to remove a committee
member from office must be seconded by a minimum of one quarter of the members attending the meeting.
b) Amendments of these By-laws shall be approved by a vote of two-thirds majority of the members present at the meeting.
c) Any other motion shall be approved by simple majority of votes. 39. Enforcement of the Decisions Any decisions taken at the aforesaid meetings shall be binding on all members present, absent and objecting. However, members may exercise their rights of objection and separation about decisions related to the Society’s conversion into a different organization or merger.
40. Chairman at Meetings
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The Chairman, or in his absence, the Vice-Chairman shall preside at every General Meeting. In their absence, any committee member elected by a majority of those present shall preside failing which any member elected by a majority of those present shall preside.
41. Identification of Members Before any member may attend or vote at a General Meeting, he/she shall be required to some evidence of membership or identify himself/herself in a satisfactory manner.
42. Powers of the General Meeting The General Meeting of members has both the right and responsibility to:-
a) Confirm the minutes of the previous meetings; b) Elect officers for the ensuing year; c) Consider and decide upon the maximum borrowing powers of the Society d) Consider and approve estimates of Income and Expenditure for the ensuing Financial
Year or part thereof; e) Appoint the Society’s Bankers, Advocates and Auditors; f) Receive reports and decide upon other matters as may be necessary for the conduct of
the Society’s business; g) Consider the Statements of account, the auditor’s report and the reports of the
committees on the activities of the Society during the past financial year; h) Confirm or otherwise consider action taken by the committees, and give direction(s) to
the new committees where necessary; i) Consider appeals against the expulsion of members and refusals of membership by the
Board; j) Elect, suspend or remove members of the Board and the Supervisory Committee
provided that proper notice and the purpose of the meeting has been given in advance; k) Fix the maximum liability which the Society may incur in loans but not to exceed 20%
of the total assets; l) Fix the honoraria, if any, for Board and the Supervisory Committee m) Receive, deliberate and make decisions on the Registrar’s reports; and n) Transact any other general business of the Society of which notice has been given to the
members in the manner prescribed in these By-laws
43. Minutes All business discussed at a General Meeting shall be recorded in a Minute Book which, within one week of the meeting, shall be signed by the Chairman of the meeting and at least one other committee member who was present at the meeting to verify that in their opinion the minutes are a true and complete record of all important matters which were discussed or decided at the meeting. At the next meeting, after approving any alterations or variations, which shall be written immediately below the above signatures, and not as alterations to the original record, the meeting shall, by resolution, authorize its Chairman to sign and date the final record.
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44. The Board A.
(i) The Board shall be elected by and from the membership and shall consist of a minimum of five and not more than nine.
(ii) All committee members shall be at least 21 years of age. The Executive Committee shall include the Chairman, Vice-chairman, Treasurer and Honorary Secretary, all of whom shall be elected from amongst the members of the Board.
B. Eligibility as a Board Member a) No member shall be eligible as a Board member unless he has been a member of the
Society for the immediate 2 years preceding the Annual General Meeting in which he seeks to be elected.
b) Subject to the provisions of the Rules, the regular term shall be fixed at three years. Any increase or decrease in the Board’s membership shall be authorized by the members at a General Meeting. Approximately each regular term shall expire at each Annual General Meeting, that is, 1/3 of the members retiring every year shall be eligible for re-election.
c) No one shall be eligible to be elected to the Board if he/she: - a. is delinquent; b. is below 21 years of age; c. is of unsound mind; d. is a member of any other society of similar nature e. does not have deposits in the Society equal to or more than Kshs.
500,000.00. f. has not attained a minimum of Ordinary Level of education
or its recognized equivalent. g. Does not conform to minimum qualification standards
established by the from time to time. d) If a member of the Board fails to attend three consecutive meetings without being excused
there from, or otherwise fails to perform his duties, his position may be declared vacant and the vacancy filed as provided in these By-laws.
e) Where a member of the Board is out of station for a period exceeding 6 months and is therefore unable to perform his duties, his position may be declared vacant and the vacancy filed as provided by these By-laws(44 D(j)).
C. Removal from office
The board may, by a two third majority vote, suspend any officer, board member Or employee who violates the act, Rules made thereunder, these bylaws, or for any other good sufficient cause PROVIDED the board before taking a decision to suspend the affected person give and affords him/her an opportunity to be heard and to defend himself/herself on the alleged violation.
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Upon the affected person being suspended, the board shall as soon as practicable, through a transparent process, co-opt a member of the society to serve on the Board until the next general Meeting of the Society If the suspension is ratified by the AGM, the member shall be removed from the office and another Board member elected. D. Functions and Responsibilities of the Board The Board shall be the Governing Authority and subject to any directions from a General Meeting, it shall direct the affairs of the Society. Its procedure, powers and duties shall be as prescribed in the Act and Rules, and in particular, it shall: - a). Observe in all its activities the Act, the Rules and these By-Laws; b). Generally direct and monitor the affairs of the Society; c). Act upon all applications for membership unless a membership officer is appointed to
do so; d). Ensure that true and accurate records and accounts are kept of the Society’s money,
and its properties, capital reserves, liabilities, income and expenses; e). Decide the amount and kind of surety bond, or other security, which shall be required
of the Board General Manager and any other officer or employee having the custody of, or handling funds or property of the Society;
f). Draft or cause to be drafted the internal regulations which shall include all matters which have not been taken care of or provided for in the Act, Rules and these By-laws which call for specific enactments to ensure smooth functioning of the Society;
g). Determine from time to time the interest rates on loans, the maximum maturities and terms of payment or amortization of loans to members and the maximum amounts that may be loaned with or without security to any member
h). Lay before the General Meeting an audited financial statement and budget for the following year.
i). Fill vacancies occurring in the Board, the Credit Committee, Education Committee, Executive Committee, Finance Committee and any other Sub-committee between Annual General Meetings;
j). Authorize investments of the Society and the conveyance of property; k). Authorize borrowing and lending operations of the Society in accordance with the Act
and Rules; l). Designate a depository, or depositories, for the funds of the Society; m). Submit proposals to the General Meetings and providing information necessary to
enable the members deliberate and take actions; n). Employ and fix remuneration of the General Manager and other staff and terminate
them if necessary; ensure availability of appropriate terms and conditions of service, job descriptions and specifications;
o). Assisting persons empowered to audit the accounts and supervise the operations of the Society;
p) Impose fines; q). Determine gratuity, honoraria, allowances, bonus or other commissions to employees
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and to retiring Board or Supervisory Committee members. r). Approve transfer of shares between members and determine the interest rates which
shall be paid on deposits; s). Review monthly delinquency reports and supervise the collection of loans to members
and authorize the write-offs of uncollectible accounts; t). Affiliate and maintain liaison with national or international organizations or any other
apex body approved by the General Meeting; u). Make capital expenditures; v). Offer new services and pricing policies and set appropriate policies and ensure
implementation; w). Report to the Annual General Meeting on their activities and actions; x). Perform such other duties as are necessary to preserve the sound management of the
Society and authorize any action consistent with the Act, Rules and these By-laws, unless specifically reserved for the General Meeting.
y). Suspend any member who willfully or without reasonable cause disobeys a lawful order issued by the Board or discloses any matter discussed by the board which is considered prejudicial to the smooth running of the society or in breach of collective responsibility.
z). Suspend any member of the Board who acts contrary to the best interest of the Society. E. Reasonable Duty and Care In the conduct of the affairs of the Society the members of the Board shall exercise due prudence and diligence of ordinary men of business and shall be held, jointly and severally liable for any losses sustained through any of their acts which are contrary to the Act, Rules and the By-Laws of the Society or the directions of any General Meetings. F. Delegation of Duties a) The Board may delegate in writing to an officer or employee of the Society such of its
duties as it deems necessary. b) Nothing in (a) above shall absolve the Board from its responsibility of running the affairs
of the Society in proper and business like manner. The Board must ensure that it has full control of the affairs of the Society.
G. Records of Board Meetings
a) All business discussed or decided at Board meetings shall be recorded in a Minute Book which, within one month of the meeting, shall be signed by the Chairman of the meeting, and at least one other Board member who was present at the meeting to verify that in their opinion, the minutes are a true and complete record of all important matters which were discussed or decided at the meeting.
b) At the next meeting, after approving any alterations or variations, which may be written immediately below the above signatures, and not as alterations to the original record, the meeting shall authorize the Chairman to sign and date the final record.
45. Sub-Committees A.
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The Board may appoint sub-committees, such as an Education Committee, Finance and Investment Committee, Credit Committee and such number of Sub-committees as the Board shall determine B. Delegation to Sub-Committees The Board may delegate to the Sub-Committees such of its powers and duties under these By-laws as it deems fit and proper. C. Vacation of Office by Sub-Committee Member A member any Sub-committee shall ceases to be a member of that sub- committee if he ceases to be a member of the Board or by resignation or suspension from the Board or Sub-committee. A member of a sub-committee may however cease to be a member of that sub-committee without necessarily resigning from the board. 46. Executive Committee A. The Chairman, Vice-Chairman, Treasurer and Secretary shall be termed “Executive Committee”. The Executive Committee shall be elected at a meeting of the Board within 7 days after each Annual General Meeting, in accordance with By-law 44 for a term of three years and eligible for re-election. B. Chairman and Vice Chairman a) The Chairman shall preside over all General Meeting of the Members, and over all
meetings of the Board. The Chairman shall perform such other duties as he may be directed by the Board, provided that such duties are not inconsistent with the provisions of the Act, Rules and these By-Laws.
b) The Vice-Chairman shall perform the duties of the Chairman during his absence, and shall perform such other duties as he may be directed to by the Board.
C. Honorary Treasurer
a) The Treasurer shall have financial management background
b) The powers and duties of the Treasurer shall be:- (i) Generally to manage, or cause to be managed, the financial affairs of the
Society in a competent and efficient manner; (ii) To maintain full and complete records of all assets, liabilities, income and
expenses of the Society; (iii) To ensure the safe-keeping of the Society’s finances, securities and assets
and ensure that proper books of accounts are maintained; (iv) To ensure that all payments and expenditures are duly authorized; and (v) To ensure compliance with all directives of the Board (vi) To oversee the day to day operations of the Society.
D. Honorary Secretary. a) The duties of the Honorary Secretary are:-a). To ensure the proper record of Minutes
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UN SACCO BY-LAWS
of the Board meetings and General Meetings; b) To ensure that the Society’s correspondence is promptly and correctly attended to; c) To ensure the communication of notices of meetings; and d) To perform such other duties as may from time to time be assigned by the Board.
47. The General Manager The General Manager shall be the Chief Executive of the Society. The General Manager’s powers and duties shall be assigned by the Board and in particular:-
a) To manage the affairs of the Society in a competent and professional manner; b) To cause to be kept proper books of accounts, registers and records; c) To attend Board meetings and the Annual General Meetings in an advisory capacity
with no voting rights; d) To prepare and analyze on a quarterly basis the Society’s business plan and budget; e) To represent the Society in business transactions and any other transaction authorized
by the Board; f) To provide information required by the Supervisory Committee in time; g) To propose to the Board of new positions arising at the Society, and the revision of the
salary schedule for all the Society’s staff; h) To implement recommendations set forth in the audit reports and those issued by the
Supervisory Committee; i) To ensure on a monthly basis the accounting records are in balance and the individual
accounts subsidiaries are up-to date and the income Statement, balance sheet, and delinquency lists are complete and correct. The General Manager shall ensure that the account records are maintained in accordance with internationally accepted accounting principles;
j) To ensure that adequate insurance is in place if available for all employees, officials and property of the Society
k) To direct and supervise the administration and processing of loan applications l) To advise a pricing strategy for products and services, in which the interest rates
structure will seek a balance between the loans available to the members, and the long-term viability of Society. For this purpose the General Manager should consider:-
(i). Costs, particularly those related to member savings, dividends, the allowance for loan loss, and operating expenses.
(ii) The need for a strong capital position, which is essential for the Society’s long term viability and future growth; and (iii). The competition’s pricing structure, given the competitive nature of the financial market.
m) To assist the Board in determining acceptable types of collateral that can be used to secure the Society’s loans.
n) To ensure there is adequate liquidity to meet loan demands, savings withdrawal, and operating expenses.
o) To ensure drawing up and updating of job descriptions of each employee. p) To ensure implementation without delay of all decisions of all Committees of the
Society and the General/Members’ Meeting q) To perform any other duties as may be directed by the board
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UN SACCO BY-LAWS
48. Credit Committee A. a) If appointed, the Credit Committee shall consist of three members who shall be members
of the Board but none of whom shall be executive officers. The Credit Committee shall be chosen at a meeting of the Board within 7 days after each General Meeting for a term of one year.
b) The Board may set the minimum qualifications for the Credit Committee membership, provided that no member below 21 years shall be eligible for election to the Credit Committee.
B Meetings. The Credit Committee shall hold such meetings as the business of the Society may reasonably require, but not less frequently than once a month. C) Duties. The Credit Committee shall keep records of its actions.
(i) The Credit Committee shall inquire carefully and diligently into the character and financial conditions of each applicant for a loan, and his/her guarantors, if any, to ascertain the applicant’s ability to repay fully and promptly the obligations incurred by him/her.
(ii) The Credit Committee shall report to the Board as the Board may require. (iii) The Credit Committee shall be responsible for the formulation and review of the
credit policy. Any changes shall however be forwarded to and approved by the Board.
(iv) The credit committee shall adopt best practices in the industry, including the use of Credit Reference Bureaux.
(v) At every monthly meeting of the Board, the Credit Committee shall present an up-to-date listing of delinquent borrowers showing:- a. Name b. Account Number c. Date of Loan d. Date of last Payment e. Unpaid Balance on Loan f. Number of Months Delinquent g. Borrower’s Share Balance; and h. Security, Guarantors, if any
The Board shall thereupon take action to collect the overdue accounts. (vi) At every monthly meeting of the Board, the Credit Committee shall also present a
report on loans approved with exceptional terms. 49. Education Committee A) The Education Committee shall consist of three members who shall be members of the Board but none of whom shall be the executive officers except the Vice Chairman of the
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UN SACCO BY-LAWS
Society who shall be a member. It shall be upon the Education Committee to elect its Chairman, Secretary and Member. B) Duties. The function of the Education Committee shall be to: (i) Organize, facilitate and promote members’ and committee
members’ education on co-operative matters; (ii) Organize, promote and oversee Society’s staff training. (iii) Ensure production and acquisition of literature including periodicals,
magazines, or brochures for use by committee members, staff and general membership.
(iv) Promote distribution and interpretation of Society’s By-Laws to members.
(v) Arrange for educational tours in liaison with other members of the Board
(vi) Advise the Board and update members in all matters on education and information on co-operative matters;
(vii) Ensure allocation of funds for educational purposes and apply the funds for the benefit of the Society;
(viii) Prepare periodic reports on educational and information on co-operative matters and publicize the same for the benefit of members;
(ix) Identify, collect, disseminate and publish co-operative news for the benefit of the Society; and
(x) Any other duties as may be assigned by the Board 50. Supervisory Committee. A)
a) The Supervisory Committee shall be elected by the general membership at the Annual General Meeting. The Supervisory Committee shall consist of three members who must not be employees of the Society’s or serving on the Board or any other Committee of the Society.
The term of the Supervisory Committee shall be 3 years with 1/3 of the membership retiring on a rotational basis.
Honorarium and Allowances to the Supervisory Committee shall not be determined by the number of meetings.
b) The Supervisory Committee members shall choose among their number a
Chairman and a Secretary. The Secretary of the Supervisory Committee shall prepare, maintain, and keep custody of the records of all actions taken, including written evidence of any audits performed by the Supervisory Committee. Conditions for elections shall be the same as those of the members of the Board
B. Qualifications The Annual General Meeting shall set the minimum qualification requirements for the members of the Supervisory Committee. Provided, that at least one of the members shall
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UN SACCO BY-LAWS
have adequate Book-keeping, Accounting, Auditing or financial management knowledge. C. Authority (i) Without intervening in the administrative functions subject to its control and
supervision, the Supervisory Committee is responsible for the Society’s compliance and internal control and oversight. It is also responsible for the truth and accuracy of the Society’s financial condition, and for making sure that the Society’s administrative practices and procedures are adequate to safeguard the members’ and the Society’s rights and interest.
(ii) Meetings of the Supervisory Committee shall be convened by its Chairman. The Supervisory Committee shall meet as often as it finds necessary to carry out its work efficiently. Its normal joint meetings shall be quarterly. It shall be a body in the internal supervision of the Society as may be determined by the General Meeting from time to time.
D. Powers and Duties The following are the powers and duties of the Supervisory Committee: -
(i) Evaluate programmes of the Society; (ii) Check Minutes of the Board and General Meetings for policy matters
following the stated objectives; (iii) Ensure the proper interpretation of loan policies, By-laws, Act and the Rules,
Annual General Meeting resolutions, policies of the Board and their implementation;
(iv) Confirm cash regularly and reconcile it with the records; (v) Check bank accounts monthly and their reconciliations; (vi) Check balance sheets and income and expenses Statements to ensure they are
correct; (vii) Make audits of members statements; (viii) Check loan applications and note the exceptions, if any; (ix) Verify the Society’s investments in banks, and in various institutions; (x) Check delinquent loans among the Board and Society’s members and ensure
that the concerned are informed; (xi) Analyze expenses of the Society; (xii) Check dividends/interest on share/savings and loan interest payment; (xiii) Ensure that the standardized accounting system is implemented in the Society; (xiv) Listen to members’ complaints and assist them to find a solution; (xv) Make regular review of budgets (xvi) Prepare and present reports to the Board and to the General Meeting; (xvii) Co-operate and seek assistance from Society General Manager and Internal Auditor
where necessary; (xviii) Identify and recommend solutions for weakness in the Society’s matters to
the Board. (xix) Seek for solutions for weakness in management of the Society; (xx) Establish whether the Society’s Board members and staff operate in the
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UN SACCO BY-LAWS
interest of the Society and the members in general; (xxi) In case the Supervisory Committee requires the services of an expert to assist
them in a specific job, the honorarium of the expert shall be determined by the Board based on the budget of the Society approved by the General Meeting. The expert shall be selected by the Supervisory Committee.
(xxii) Receive the reports of the Internal Auditor, if any, and take action on the same or recommend for action by the General Meeting.
(xxiii) Fill vacancies occurring in the Supervisory Committee. If however the remaining members of the Supervisory Committee are unable to fill the vacancy for any reason, the Board will fill the vacancy.
E. Liability In spite of its total independence from the Society’s administrators, the Supervisory Committee members are jointly and severally liable for the nonperformance of duties, whether resulting from the lack of supervision or negligence in noticing illegal and fraudulent acts. 51. Books and Records. The Society shall keep up-to-date and in a proper business-like manner accounts and such books as the Act and Rules may require from time to time. The following books shall be kept by the Society: - a) A register of members showing in respect of each member;
(i). The name, age, date of application for membership, address and occupation; (ii). The date on which he ceased to be a member, (iii). Particulars of his nominee if any.
b) Minute Book giving details of proceedings of the Board and Supervisory Committee c) A Minute Book giving details of proceedings at the General Meeting d) A cash book giving details of all monies received and all monies expended or paid out by
the Society; e) A General Ledger containing such accounts as is necessary to properly record the
transactions of the business of the Society. f) A personal ledger for each member showing his/her transactions with the Society. g) An assets (property) register; h) A stock control ledger; i) A register of charges showing in respect of every charge created by the Society the
amount of the charge and the person entitled thereto. j) A register of loans to members showing in respect of each loan the name of the borrower,
the amount borrowed, the purpose of the loan, the due date of repaying, and the date the repayment is made.
k) A ledger showing deposits and withdrawals made by members. l) A guarantor’s control register showing loan interest rates and collaterals; m) A copy of the current Co-operative Societies Act, n) A copy of the current Co-operative Societies Rules, o) A copy of the Society’s By-Laws; p) A copy of Kenya Union of Savings and Credit Co-operative Society By-laws; q) A copy of internal regulations
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UN SACCO BY-LAWS
r) A certificate of registration of the Society visibly displayed in the office; s) Copies of approved Final Accounts; t) Copies of Monthly Financial Statements; u) Copies of the Loan Policy; v) Copy of the Risk Management Certificate or Insurance Policy Document; and w) Such other books and records as the Board may decide or the Registrar may prescribe.
52. Financial Year The financial year of the Society shall be the same as the calendar year that is from 1st January to 31st December. 53. Regulations The Board may make such rules not inconsistent with these By-laws, as they may deem necessary for the conduct of the Society’s business. Any such regulations shall be recorded in the Minute Book and shall be brought to the membership attention, and shall come into force when and as determined by the Board. 54. Elections a) Candidates must be members in good standing. b) Candidates shall present their qualifications and willingness to serve voluntarily in the
committee. c) All elections shall be determined by simple majority vote of members present and shall be
by secret ballot or by show of hands except where there is only one nominee for the office. If there is a tie vote, the election shall be repeated.
d) In all the Society elections:- (i) Voting shall be by secret ballot or by a show of hand unless another method is
specifically requested by a majority of the members present (ii) No member shall be entitled to vote by proxy (iii) Irrespective of the number of shares held by him/her, no member shall have more
than one vote. (iv) Within 10 days after their election the names and address of all persons elected to
office shall be compiled and kept by the General Manager of the Society 55. Conflict of Interest Every Board member and employee of the Society shall be required, before taking part in any business transaction which the Society may be about to discuss, or initiate to disclose any personal interest in the matter and shall not take part in any discussion or vote upon that item of business. The Board member or employee shall physically absent himself/herself from the discussion unless it is determined that he/she has relevant information to provide. Failure to divulge the said relevant information shall result in suspension from office or termination of employment.
56 Authorization to Sign Documents a) The Chairman, Vice-Chairman, Hon. Secretary and Treasurer or any designated employee
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shall be signatories of the Society. The internal regulations shall detail which signatories are necessary for particular operations
b) Unless otherwise provided the documents of the Society shall be deemed official provided they carry the official stamp and designated signatures referred to above.
c) The books, accounts and all other documents of the Society shall be permanently at the disposal of the Board Supervisory Committee and other organizations or institutions as approved by the Board. Information from the records shall be kept absolutely confidential.
57 Disposal of Surplus Subject to the Act and the Rules, and approval by the General Meeting, the net surplus resulting from the operations of the Society during any financial year shall be disposed of as follows:- a) Not less than 20% shall be credited to the statutory Reserve Fund; b) The balance may be disposed of as the Board may recommend in the General
Meeting i.e.; (i) Paying a dividend on shares and interest on deposits; (ii) Paying it into the institutional capital to which no member has a claim (iii) Being carried forward to an Education Fund or other funds of the Society,
including the appropriation accounts; (iv) An amount not exceeding 10% of the remaining net balance may be paid
to any charitable purpose; (v) Paying a gratuity or honoraria, allowances and other commissions to the
Board as determined by the Annual General Meeting; (vi) In any other way approved by the Annual General Meeting.
58. Loans to Members (A) General provisions a) All loans shall be approved by the Credit Committee and shall be generally restricted to
members. b) The rate of interest on normal, education and emergency loans shall be fixed by
the Board for approval at the Annual General Meeting; c) All loans shall be applied for on forms provided by the Society for the purpose.
The loan application shall be signed by the member and in each case shall set for the amount applied for, the purpose for which the loan is desired, the terms of repayment, the security if any and such other information as the Credit Committee or the loans officer may require. All applications for loans and the reports of the Credit Committee or loans officer thereon, shall be filed as a permanent record of the Society
d) All records of the Society shall be kept for a minimum period of 7 years. For records related to loans. The period of 7 years will start after the said loans have been fully repaid.
e) For purposes of a member being considered for a loan, his deposits shall be taken into account.
f) Loan applications shall be considered by the Credit Committee or loans officer in the order in which application is made unless the loan is deemed by the Credit
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UN SACCO BY-LAWS
Committee to be an emergency loan. g) The Credit Committee may summon or cause to be summoned an applicant to
appear personally to be interviewed in respect of his/her application for a loan. h) The loan repayment form shall clearly state the amount of the loan, the rate of
interest, the terms of repayment, and the security, if any. i) Loans may be granted to the Board members and employees of the Society if:-
(i) The loan complies with Society’s loan policy (ii) The loan is approved by the Credit Committee or by the Board in special
circumstances. (iii) The applicant takes no part in the consideration of his application.
j) A loan may not be granted if:- (i) The conditions of membership or savings are not fulfilled; (ii) The member is overdue for a period exceeding 3 months on the repayment
of a loan or interest on it; (iii) The financial condition of the Society does not allow for the granting of
loans; (iv) The amount of delinquent loans exceeds 25% of the total amount of loans
outstanding in the Society; (v) It is in excess of 5% of the Society’s assets nor for a period exceeding what
is contained in the loan policy; (vi) The applicant’s contribution to share capital is less than Kshs. 10,000.00 (vii) Under (v) and (vi) above, Board shall convene a Special General Meeting
and submit an explanatory report to it. k) Under exceptional circumstances, the Society may approve a loan with a
repayment period exceeding that recommended in the Credit Policy, and may also exceed the maximum qualifying period for the member, provided:- (i) The member may only be granted another loan when the loan exceeding the
maximum period or the qualifying period, as the case may be, is repaid to fall within the maximum qualifying period.
(ii) The member signs to accept this condition. l) The Society, for all loans, reserves the right to ask for a premature reimbursement,
if the financial standing of the borrower is not clear or where there is evidence of an unauthorized or poor use of the loan.
m) A decision in this respect shall be taken by a simple majority vote of the Board. n) The Board may draw further regulations in respect of granting of loans provided
such regulations shall not come into force until approved by the General Meeting.
B. Security for Loans a) The Credit Committee or loans officer shall ask for such security for loans as may be
considered necessary. Guarantees and deposits shall be taken as the core of security of a member.
b) Where there is, after 3 months, continued delinquency, the Society may off-set the loan balance provided that all avenues have been exhausted to recover the said loan. Any outstanding loan balance shall be off set in accordance with the loan policy.
c) Nothing in these By-laws shall prevent the Credit Committee from using its discretion to grant a loan secured only to the known character, honesty and good standing of the
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22
borrower together with his income prospects d) The Credit Committee shall refuse to accept as a guarantor a person who is himself/herself
delinquent in respect of his/her loan. e) Any dividends on shares or interest on deposits shall be withheld to offset any arrears on
loans.
C. Loan Guarantee a) The guarantee for loans shall be for a specified amount. b) No member of the Board or the supervisory committee shall act as a guarantor. c) The member desiring to obtain a loan shall ensure that the loan is fully guaranteed, after
taking into account his outstanding deposits. d) The loan shall be considered fully guaranteed when the outstanding shares, taken together
with monthly share contribution and the amounts guaranteed, equal to the loan amount approved.
e) As the guaranteed loan is repaid, guarantors will be gradually discharged on a pro-rata basis.
D. Repayment of Loans a) A borrower may, on any day on which the Society is open for business, repay his loan in
whole or in part prior to maturity. b) The Credit Committee may in the most exceptional circumstances agree to the re-
financing of a loan balance. c) At every monthly meeting of the Board, loans shall be discussed. At the meeting, the Credit Committee shall present an up-to-date listing of delinquent borrowers. 59. Common Seal The Society may adopt and use a common seal bearing the word “Seal of the United Nations Savings and Credit Co-operative Society Limited” and shall be kept securely under lock and key by the General Manager or a duly designated officer for that purpose and shall be used only by, and in the presence of, the officers authorized to sign documents on behalf of the Society. 60. Disputes Any dispute arising out of these By-laws or concerning the business of the Society, which cannot be settled amicably by the Board or the AGM, shall be referred to the Tribunal established under the Act. 61. Payments The Society may, upon approval of the Annual or Special General Meeting pay any of its officers or members such honorarium, salary, commission or other payment subject to the provision of the approved budget for the financial year. 62. Confidentiality Oath
a) The Executive Committee, members of the committees and employees of the
UN SACCO BY-LAWS
Society shall hold in the strictest confidence all transactions of the Society, with its members, and all information respecting their personal affairs, except to the extent deemed necessary by the Board in connection with the loans and the collection thereof.
b) In cases of breach of confidentiality, besides the resulting action for damages, the responsible party shall be removed from the office or their employment terminated.
c) No Board member, Committee member, Supervisory Committee Member or employee of the Society shall in any manner participate in the deliberations upon, or determination of any question affecting his/her own financial or personal interest.
d) In the event of disqualification of any such executive officer, Board member, or employee he/she shall withdraw from such deliberations or determination, and the remaining qualified committee members present at the meeting, if constituting a quorum with the disqualified person, may exercise with respect to the matter, all the powers of the committee.
63. Amendment of By-Laws These By-laws may be amended in accordance with the procedure set forth in the Act, Rules and By-Law 38 (b) but no amendment shall become effective until it is approved by the AGM and registered by the Commissioner 64. Acquisition of By-Laws Any person may purchase a certified copy of these By-laws from the registered office of the Society upon payment of a fee as may be determined by the Board. For purposes of this provision, a copy of the By-laws shall be deemed duly certified provided it is endorsed in compliance with By-Law 67 of these By-Laws. 65. Inspection of Documents All books of accounts and other records shall at all times be available to the members and the committee of the Society. A copy of the Act, registration certificate, these By-laws and a list of its members excluding details of nominees and share holdings or loans shall be available for inspection by any member at all reasonable times during business hours at a fee to be determined by the committee from time to time. 66. Dissolution
a) The Society may be dissolved in accordance with the procedures set forth in the Act and Rules made there under
b) In the event of liquidation, the assets of the Society shall be realized, all liabilities shall be paid, all savings shall be refunded to the members and any surplus or deficit thereafter shall be apportioned to each member in proportion to the value of each member’s shares at the date of liquidation.
67. Acceptance
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UN SACCO BY-LAWS
We the undersigned Executive Committee members of UNITED NATIONS SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED named herein do hereby accept and adopt these By-laws for and on behalf of UNITED NATIONS SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED together with any changes or alterations that have been initialed or signed by us.
NAME SIGNATURE Chairman Mary Oyugi
Vice-Chairman Kimani Macharia
Hon. Secretary David Ombisi
Treasurer Felista Ondari
Certified that the foregoing By-Laws of the UNITED NATIONS SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED have been approved by me and duly registered. GIVEN UNDER MY HAND AT NAIROBI THIS ...3rd DAY OF March 2009.
COMMISSIONER OF CO-OPERATIVE SOCIETIES. APPENDIX A UNITED NATIONS SAVINGS AND CREDIT CO-OPERATIVE
SOCIETY LTD
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UN SACCO BY-LAWS
1. APPLICATION FOR MEMBERSHIP
COMPLETE THIS FORM IN BLOCK LETTERS The Hon. Secretary, P.O. Box 30552, NAIROBI I hereby make an application for membership and agree to conform to the Society’s
By-Laws and any amendment thereof.
FULL NAME: MR. MRS. MISS.............................................................................. DATE OF BIRTH.................................. OFFICIAL DESIGNATION.................................. PAYROLL NO...................................... TERMS OF SERVICE ........................................ ID. NO................................................... EMPLOYER......................................................... DATE.................................................... DEPARTMENT.....................................................
STATION................................................................ PRESENT ADDRESS .................................................................. HOME ADDRESS...........................................................................
................................................
Signature of Applicant
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UN SACCO BY-LAWS
26
2. NOMINEE
The Cooperative Societies Act Nomination Form
To: The Chairman United Nations Cooperative Savings And Credit Society Limited P O Box 30552 Nairobi
I __________________________ (ID Nos: ______________________ ) of P O Box _____________ being member number ________ of UNSACCO, hereby nominate the following nominee(s) to inherit my shares in the Society in the following manner:
Name of nominee(s) Relationship % Shares / Interest
1 2 3 4
Witnessed by:-
1 I __________________________ (ID Nos: ______________________ ) of P O Box _____________ City _____________.
Signed: _____________________
2 I __________________________ (ID Nos: ______________________ ) of P O Box _____________ City _____________.
Signed: _____________________
Given under my hand this ____________ day of ________________ in the year ________.
Signature:_______________________
