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Benefits of being a BOSCCA Member

A BOSCCA member is a shareholder who is entitled to have a say (voice) and vote in the decision-making process, regardless of the amounts of their SACCO deposits. Under the principle of democratic ownership, every BOSCCA member can also participate in making policy and regulation of the national trade association as a member of the general assembly or when elected onto the board of directors.

BOSCCA is a non-profit financial cooperative which offers a wide range of financial services to members. According to each field of membership, credit unions are classified into community based, enterprise/employee based, and association/group based SACCOs. Other than financial services, a SACCO promotes community development through education, social activities, and by providing funding to disadvantaged people.

BOSCCA as an apex trade association is a financial intermediary, and business organization consisting of all SACCOs in Botswana, and was established in 1998. As such BOSCCA represents member SACCOs to the government, the regulator, and the international SACCO society. It conducts publicity, supervision, management consulting and education. As a financial intermediary BOSCCA manages a national Central Financial Services Fund In the spirit of cooperation among cooperatives, and believing and understanding that the SACCOs movement can best save the interest of their members through inter-cooperation.

BOSCCA offers a variety of Value-Added Services on a discount to members. Participating in the value-added services also earn member SACCOs an additional income while at the same time providing for the subsidizing of individual SACCO membership contributions.

Eligibility For Membership

The membership of the association shall consist of:

All registered SACCOs affiliated to the association in accordance with the BOSCCA BYE-LAWS, and secondary cooperatives societies under the Cooperative Society Act 1989 as and when amended.

Each member society affiliated shall be provided with a share certificate and a record of its shareholdings in the form prescribed by the Board of Directors.

Every affiliate shall have a right to attend the association’s annual general meeting.

Non-affiliates may attend the association’s annual general meetings as observers.

A society shall be an affiliate of the association subject to admission by the Board of Directors, confirmed by the annual general meeting and has paid an affiliate fee. The association may prescribe different fees and may prescribe the extent to which and the circumstances under which a particular fee may be refunded, if any. In addition to the timely payment of the association dues, the Board of Directors may from time to time require members to meet other obligation responsibilities that are consistent with the Cooperative Act and the BOSCCA BYE-LAWS.

Membership Dues

In order to be admitted into the membership of BOSCCA, the applicant shall pay a non-refundable entrance fee of P200.00

A minimum of 10,000 membership shares of P1 each shall be issued only to SACCOs which are eligible for membership as defined above, therefore a total consideration of P10,000.00 membership fee is required.

Once admitted into membership, Member SACCOs are expected to pay a monthly subscription of P1.00 per member for BOSCCA sustainability.