Functions of savings and credit co-operative societies
Answer Text: Functions of savings and credit co-operative societies(SACCOs):-Accepting deposits from members in form of a savings, shares and fixed deposit accounts.-Provision of different types of loans to members at low interest rates.-Initiate and invest on behalf of their members and paying dividends on shares.-Encourage savings among members through monthly or daily contributions.-Offer banking services to members such deposits, withdrawals, advances etc.-Offer personal loans to members through commercial banks.
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