What is the difference between Shares, Deposits and Savings?

Shares:

• The amount representing a member’s portion in the equity of the society as a co-owner
• No member other than a Cooperative Society shall hold more than one-fifth (1/5) of the total shares
• Shares are not used to determine the eligibility of a borrower or a guarantor
• Shares are not withdraw able but are transferable

Deposits

• Every member must make regular deposits towards alpha deposits in accordance with Savings and loans policies
• They are not withdrawn in part or in full as long as a person is a member of the Sacco
• These deposits may be used to determine the eligibility of a borrower or a guarantor

Savings

In addition to shares and deposits a member may invest in a saving account. The Sacco provides the following savings products:

• Imani savings
• Junior star savings
• Seasonal savings
• Ordinary savings
• Fixed deposit
• Save as you earn savings