27-Sep-2023
Background, Profile and History of HACO Sacco
HACO Savings and Credit Co-operative (SACCO) Society Limited was established in the year 1980 and registered under Co-operative Act (Cap 490) for members with a common bond through employment by HACO industries but currently draws members from individuals in employment from all sectors, businesspersons’ groups, and corporates. Over the years, the SACCO has grown, opened the common bond, and regulated by Sacco Societies Regulatory Authority (SASRA).
The key objectives are to provide members with an avenue for the accumulation of savings and credit facilities at affordable rates of interest. Haco Sacco is managed through officials who are elected by the members at the Annual General Meeting (AGM) and the full-time Sacco Secretariat oversees the day-to-day operations of the Sacco. Two key organs run the Sacco: The Board of Directors and the Supervisory.
The main objective for which the Society was established is to encourage savings among members and to create a source of funds that members can borrow loans at reasonable rates of interest and to improve their standards of living by building their economic status.
The Society intends to use the Strategic Plan as a guide and reference document to achieve its overall Mission and Vision. The objectives and strategies for achieving the Mission and Vision were formulated in five key areas (Pillars), namely Membership, Financial Performance, Operations and Infrastructure, Marketing, Products and Services and Leadership, Governance, and Human Resources.
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