Download Pdf Document:
Afya at a glance (PDF 902K)

BIRTH OF THE SOCIETY

Afya Co-operative Savings and Credit Co-operative was registered on
8th May 1971 by some twenty founder members/promoters. Membership has grown over the past thirty three years and todate there are over fourty thousand members.

PRIMARY OBJECTIVE

The Society’s Primary object 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.

(b) Democratic control

Back to top

The members enjoy rights to vote and participate in making decisions affecting the Society. 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 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-opearive education

Afya Co-operative believes that the key to success if founded on 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 more that in the past 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.

VISION AND MISSION

Afya Society aspires to be THE CO-OPERATIVE OF CHOICE.

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

Download Pdf Document:
Afya at glance

Back to top