Reasons why you should attend SACCO AGM

A Savings and Credit Cooperative Organization (SACCO) Annual General Meeting (AGM) is one of the most important events on the cooperative calendar. Yet, many members skip it, often assuming it is only for leaders or long-serving members. In reality, the AGM directly affects every SACCO member. Attending gives you a voice, keeps you informed, and helps protect your financial interests. Here are the key reasons why you should attend SACCO AGM.

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It Is Your Right as a Member

As a SACCO member, you are a part-owner of the institution. The AGM is where members exercise their democratic rights by participating in decision-making. Attending ensures you are not sidelined when important resolutions are discussed and passed. If you do not attend, others will make decisions on your behalf.

You Get Accountability from the Leadership

One of the core purposes of a SACCO AGM is accountability. During the meeting, the board of directors, management, and supervisory committee present reports on how the SACCO has been run over the past year. This includes financial performance, challenges faced, and future plans. Attending allows you to ask questions, seek clarification, and hold leaders accountable for how members’ savings are managed.

You Understand the Financial Health of Your SACCO

At the AGM, audited financial statements are presented and explained. This gives you a clear picture of the SACCO’s income, expenses, profits or surplus, loan portfolio, and overall financial stability. Understanding these figures helps you assess whether your SACCO is growing, struggling, or at risk, enabling you to make informed decisions about your savings and borrowing.

You Influence Key Decisions

Major decisions that shape the future of the SACCO are often made during the AGM. These may include approval of dividends and interest rebates, changes to bylaws, merger proposals, investment plans, or amendments to loan policies. By attending, you can vote, contribute to discussions, and influence outcomes that directly affect your benefits as a member.

You Participate in Electing Leaders

Most SACCOs elect board members, supervisory committee members, or other officials during the AGM. These leaders play a critical role in governance and oversight. Attending the AGM allows you to vote for competent and trustworthy individuals—or even offer yourself for leadership—ensuring the SACCO is guided by capable hands.

You Learn About Dividends and Member Benefits

Members often attend AGMs to hear announcements about dividends, interest on deposits, and other benefits. The meeting explains how surplus is distributed and what members can expect in the coming year. Attending ensures you understand how your contributions translate into returns and what benefits you are entitled to.

You Get Updates on New Products and Services

AGMs are an opportunity for management to introduce new loan products, savings schemes, digital services, or strategic partnerships. By attending, you stay informed about opportunities that could help you save better, access affordable credit, or grow your finances through the SACCO.

You Can Raise Concerns and Propose Ideas

The AGM provides a formal platform for members to raise concerns, lodge complaints, and suggest improvements. Whether it is about loan processing delays, customer service, or governance issues, the AGM allows your voice to be heard directly by decision-makers. Constructive feedback from members helps strengthen the SACCO.

You Network with Other Members

Beyond formal proceedings, AGMs bring together members from different backgrounds. This creates opportunities for networking, sharing experiences, and learning from others. For business owners and professionals, SACCO AGMs can also open doors to partnerships and collaboration.

You Strengthen the Cooperative Spirit

SACCOs are built on the principles of cooperation, unity, and shared responsibility. Attending the AGM shows commitment to these values and helps build a strong, transparent, and member-driven institution. High member turnout also signals confidence and trust in the SACCO, which enhances its credibility and long-term sustainability.