The Saving and Credit Co-operative Organizations has one big advantage that most of the financial institutions don’t have, and that is their customers are the owners of the organization. For this case the customers of the organization will care much on the growth of the SACCOs since the growth of the organization means their growth, Hence with other options available, it is expected from them to choose their SACCOs before any other financial institution.
The primary key of the formulation of the SACCOs is to alleviate poverty in the community by giving the unbanked population access to financial services. SACCOs do provide loans, keep savings like any other banks that are available in that community. From a purely financial point of view, SACCOs offers a higher rate of interest on savings and a lower rate of interest on loans than banks.