In 1997, a group of friends formed a welfare organization to support one another, the Welfare group was formally registered as Ndunyu Self Help Group in 1999. As a Self-help Group, members started by contributing Kshs.5/- every day. By 2008, due to continued growth in membership, savings portfolio, loans portfolio and Associated risks and legal restrictions limiting self-help groups’ membership, the group was Advised to transform to a Sacco.
In 2010 AGM the group finally converted to Sacco registered as HOME BUSINESS SAVINGS & CREDIT COOPERATIVE SOCIETY LIMITED. Formal application for registration was made in September 2011 and registration certificate issued in November 2011, in the name of Home Business Sacco Savings & Credit Cooperative Society Limited.
In March 2012, members’ shares in Ndunyu Self-help Group were transferred to Home Business Sacco. And in October of the same year, members resolved to allow the Management committee prepare the ground for FOSA operations.
- Capacity building to members, staff and board
- Job creation
- Tailor made products
- Service delivery to members through mobile tellers and mobile banking.
- To promote the welfare and economic interests of it’s members in accordance with the cooperative principles.
- Endeavor to: promote thrift among its members by affording them an opportunity for accumulating their savings and to thereby create a source of funds from which loans and advances shall be made to them exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for mutual benefit.
- Being sensitive to the environment and the less fortunate in our community
- For the attainment of the above objects, the society shall do all acts and things that are permissible under the Act, the rules and these by laws under the directions of the general meeting.
