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.

  1. 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.
  2. 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.
  3. 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
  4. 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.
  5. From June 2012 the Group created a Benevolent fund for all members and every member is required to contribute kshs.20 towards the fund.
  6. The Group shall release Kshs.40,000 to the next of kin of the deceased member who qualifies for the Benevolent fund.
  7. A retirement gratuity of kshs.15,000 per year served will be paid to each member of the management Committee.
  8. 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.
  9. A member qualifies for surplus declared at the AGM by having saved for at least six different months in the financial year.
  10. 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.
  11. A transfer fee of Kshs.300 shall be charged to any member transferring shares to another member.
  12. 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.