BIRTH OF THE SOCIETY
Afya Co-operative Savings and Credit Society was registered on
8th May 1971 by some twenty founder members/promoters. Membership has grown progressively over the past thirty three years and to date there are over 37,000 members.

PRIMARY OBJECTIVE
The Society’s Primary objective is to promote a culture of accelerated monthly savings by the members from which loans are disbursed to them for provident and self development purposes.

OPERATING PRINCIPLES
Out of commitment and concern for members welfare, the Society over the years adopted several operating principles that guide it in its relationship with its members.

These practices are in line with core co-operative values that are shared and nurtured by the co-operative movement worldwide. Our operating principles include among others the following:-

(a) Open and voluntary membership

The Society’s doors are open for membership to all who wish to join it as long as they are within the accepted common bond. Members are free to withdraw their membership if they so wish provided they do not have outstanding obligations with the Society.

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(b) Democratic control

The members enjoy rights to vote and participate in making decisions affecting the Society through their elected delegates. A member is valued for who he/she is and not what he/she owns in terms of material possession. Regardless of the amount of shares the member may have in the Society, he has a right to one vote in the general meeting.

(c) Non- discrimination

The spirit that reigns in our Society is one of Unity and harmony. The Society does not discriminate against members on account of their political, religious, race and gender diversities.

(d) Limited interest on capital

The Society pursues the goal of rendering services to the members. Maximizing profits is not among its prime objectives. Interest paid on savings and shares is limited and in proportion to the interest charged on loans

(e) Proportional distribution of surplus

At the end of every year, the Society distributes the surplus earned in proportion to the level of savings.

(f) Co-operative education

Afya Co-operative believes that the key to success is founded on a well informed membership. The Society thus pursues a policy of ensuring that the general membership is fully educated on the Society’s status and the co-operative philosophy.

(g) Co-operation among co-operatives

The Society recognizes the necessity of strengthening its support with other affiliate Co-operative organizations. This is based on the value of solidarity drawn from the saying that goes that “In unity there is strength”. By cementing strong bonds of co-operation with other co-operatives, the Society is and has been able to achieve more than it could single handed single handedly.

VISION AND MISSION

Afya Co-operative Savings and Credit Society aspires to be THE CO-OPERATIVE OF CHOICE.

The Society exists to promote the Socio-economic well being of our customers through the provision of affordable quality financial services based on co-operative ideals.

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