Members’ Obligations

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UCSCU Members’ Obligations

  1. Share capital: The minimum shareholding is 500,000/= per Share. The SACCO can buy as many shares as it can wish depending on its investment plan.
  2. Central Finance Fund (CFF/ Savings)
  3. National Education Fund: There shall be a National Cooperative Education Fund (NEF) to which every registered cooperative society shall contribute 1% per year of its turnover. 50% of the education fund shall be sent to the secondary society to which the society is affiliated, while the remaining 50% shall be retained by the society and used to carry out its own educational programs. A SACCO is therefore advised to remit National Education Fund as provided in the audited Balance Sheet annually.
  4. Annual Contribution: Annually SACCOs have to make subscriptions inform of annual contribution to UCSCU. UCSCU AGM of 2009 approved the following brackets to be applied for Annual Contribution. However a provision is made in relation to reflect for active membership as follows; 
    • 10% on the dormant membership is provided on Employee Based SACCOs and.
    • 20% on Community Based SACCOs.

Annual Contribution Rates

NoSACCO Membership
(Active membership)
Annual Contribution payable
 1300 and below200,000
 2301 – 500500,000
 3501 – 10001,000,000
 41,001 – 2,9991,500,000
 53000 and over2,000,000