Background Utabibu Savings and Credit Cooperative Society was incorporated under the Cooperative Societies Act Cap 490 in October 1974. It started with about 50 members for the express purpose of providing members with cheap loans against their shares.In 2001, the SACCO opened its doors to other Aga Khan affiliated institutions. Its membership therefore is drawn from the Aga Khan University Hospital- Nairobi as well as Aga Khan Schools which include Nairobi Academy, Nairobi Junior academy, Nairobi Nursery, Nairobi Primary, Aga Khan Education services, Path Care and Aga Khan Microfinance.
Vision Utabibu SACCO aspires to be the cooperative of choice
nationally in provision of excellent savings and credit services.
Mission To provide high quality financial products and
services by maintaining a prudently managed savings and credit system, use
of modern technology, and competent staff for achievement of social and economic wellbeing of our members.
Core Values The SACCO shall be based on the values of
self-help, mutual responsibility,equality and equity. In all the SACCO’s
activities, openness, honesty and social responsibility shall be practiced.
The following specific core values will guide the operations of
the SACCO at all times:
Building of partnerships
Transparency and accountability
Fairness and Justice
Confidentiality of Members Information
The SACCO has had tremendous success
in the past years. During the 2008 Ushirika Day celebrations, the SACCO was
ranked position one on members’ education, position two on interest payout and
position two on loan policies. All positions were in the category of companies
and Non Governmental Organizations (NGOs) during the 2008 awards.
Management A committee of 9 officials who
form the Central Management Committee (CMC) manages the SACCO. Members at
Annual General Meeting elect these officials.
The CMC is made up of the following
committee - 4 members
Committee- 3 members
Committee - 2 members
Supervision A supervisory committee consisting
of 3 members elected by society members at the Annual General Meeting
supervises the central management committee. In addition, the Ministry of
Cooperative Development supervises SACCOs.