BY- LAWS 2021
As provided in the self- help group guidelines, the management came up with the following By-laws to govern the affairs of the Self-Help Group.
- One-time non-refundable fee of Kshs. 300 shall be charged as registration fees for any member who is over 25 years and Kshs. 150 for a member below 25 years.
- All members are required to contribute a minimum share of Kshs.50 every month ( Members can save as many times as they can a month). A fine of kshs.30 will be imposed to members who fails to contribute shares in a particular month.
- All new members are required to make six consecutive contributions to qualify for a loan facility from the Self-help Group. The maximum loan a member can get is three (3) times of his/ her shares
- The Group holds it’s Annual General Meeting ( AGM) and Education Day once in every year and members are required to attend. A fine of Kshs. 200 will be charged for members who are absent without apology and Kshs.100 with apology.
- From June 2012 the Group created a Benevolent fund for all members and every member is required to contribute kshs.20 towards the fund.
- The Group shall release Kshs.40,000 to the next of kin of the deceased member who qualifies for the Benevolent fund.
- A retirement gratuity of kshs.15,000 per year served will be paid to each member of the management Committee.
- A member whose loan is recovered from shares will be charged a service fee of Kshs.500 .Upon reactivating closed accounts, a reactivation fee of Kshs. 500 shall be charged.
- A member qualifies for surplus declared at the AGM by having saved for at least six different months in the financial year.
- A member shall give a 60 days of the intention to withdraw from the Group. A withdrawal fee of Kshs. 700 shall be charged upon withdrawal.
- A transfer fee of Kshs.300 shall be charged to any member transferring shares to another member.
- For a member to qualify to be a member of the Board of Directors for the Group, he/she MUST have attained the age of 27 Years and not exceeding 60 Years among other qualifications provided in our guidelines.