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The Registered office of the Society shall be at the UNIVERSITY OF NAIROBI  and its postal address is:-

P. O. Box 30197 - 00100,


EXTENTION:  28214.


  1. The objects for which the Society is established are to organize and promote the welfare and economic interests of its members in accordance with the Co-operative values and principles.
  2. Co-operatives are based on the values of self-help, mutual responsibility, equality and equity.  They practice honesty, openness and social responsibility in all their activities.
  3. The Society shall reflect these values by applying the following Co-operative principles as general guidelines in its activities:-
  1. Voluntary and Open Membership

    The primary purpose of the Society is to serve its members and, as applicable, non-members, in a prudent and effective manner.The primary purpose of the Society is to serve its members and, as applicable, non-members, in a prudent and effective manner. 

  2. Democratic Member Control

    The Society shall be a democratic and participatory organization actively controlled by its members.The Society shall be a democratic and participatory organization actively controlled by its members.  Members shall enjoy equal voting rights, on a one member one vote basis. 

  3. Economic Participation by Members

    Members shall contribute equitably to the capital of the Society and share in the results of operations.Members shall contribute equitably to the capital of the Society and share in the results of operations.  A portion of the Society's capital shall be owned collectively, intended to further the long-term purposes for which the Society exists.  The Society shall pay a competitive rate of return on capital and compensate employees fairly according to the standards of the society in which they exist.

    • Developing the business of the Society;
    • Benefiting members in proportion to their involvement; and
    • Encouraging the further development of the co-operative movement.

Specific Objects of the Society

  1. To promote thrift among its members by affording them an opportunity for accumulating their savings and deposits and create thereby a source of funds from which loans can be made available to them for provident or productive or both purposes, at a fair and reasonable rate of interest.
  2. To provide an opportunity for each of its members to improve his economic and social conditions.
  3. To offer members complementary savings and credit services and other financial products such as front office service or withdraw able savings/deposits accounts as may be required by members from time to time.
  4. To ensure safety and soundness of the members' funds through risk management programmes or any other insurance schemes.
  5. To ensure progress of members by educating them continuously on proper use of credit.
  6. To perform all those functions and exercise all those powers designated for Savings and Credit Co-operative Societies under the applicable law for the benefit of members.
  7. To co-operate with other Co-operatives in order to promote members' interests and in furtherance of this object, the Society may affiliate with national Co-operative organizations such as KUSCCO and KNFC.
  8. To perform within the bounds of the Act, the Rules, and these By-laws all those acts, deeds and things necessary to further enhance, promote or encourage any or all of the foregoing purposes and objects provided that such acts, deeds and things are approved by the General Meeting of members and authorized by the commissioner.


Members shall consist of:-

  1. Original members who signed the application for registration; and
  2. New members subsequently admitted in accordance with these by-laws.

A person of either sex shall be eligible for membership who possesses all of the following qualifications:-

  1. Is within the field of membership consisting of the following common bond: Any employee or ex-employee of the University of Nairobi, and CHUNA SACCO LTD, resident in Nairobi or elsewhere in Kenya , and
  2. Is not less than eighteen years of age, and
  3. Is of good character, and
  4. Is resident, or occupies land within the Society's area of operation, and
  5. Is not a member of any other SACCO Society.
  1. Every applicant for membership shall complete an "Application for Membership" form.  This form may be drawn so as to show all the information required for the purpose of a Register of Members.  The completed form, when filed in serial order, shall constitute the Register Of Members as required under the Rules.
  2. An applicant shall be admitted to membership on being accepted by a majority vote of the Management Committee, but shall not qualify for the rights and privileges of membership until he has paid an entrance fee of Kshs.200.00, acquired a passbook and contributed shares continuously for a period of not less than six months.
  3. The Management Committee may refuse membership to any person and give reasons therefore; provided, however, that the person whose membership has been refused, if otherwise eligible for membership, shall have the right to appeal to a General Meeting.  Any such appeal must be supported by at least ten members.
  1. Every member shall acquire a Pass Book, which shall contain full Particulars as to his membership, and in which shall be recorded          details of his shares and CHUMBEFU contributions.  A passbook signed by a fully authorized officer shall be conclusive evidence that the person named therein is a member of the Society and shall constitute a certificate of shareholdings, unless it is proved otherwise.  If such a book is lost, issuance of a duplicate may be authorized by the Management Committee upon payment of such a fee as the latter may decide.
  2. The Management Committee shall cause to be produced statements of members' personal accounts at the end of every financial year.  The statements shall contain, at least, details of loans taken, repaid and balances and also the amount of interest paid during the year.  Such statements shall be availed to members not more than three months after the end of the financial year.
  3. A separate passbook shall be maintained for deposits or withdraw able savings and such other records as may be produced for the Front Office Services.
  1. Every member may nominate in writing one person to whom, on his death, his shares, deposits, or any other interest shall be transferred.  Appointment of a nominee by a member shall be in writing and signed by the member in the presence of two attesting witnesses.  The name of the nominee shall be entered in the Register of Members or recorded and placed in a sealed envelope to be kept safely by the Society.  A member shall have the right to change his nominee, but any such change or alteration must be in writing and signed by the member in the presence of two attesting witnesses.
  2. The nominee shall be paid the value of the deceased member's shares or interest, subject to production of the deceased member's death certificate. Such dues shall be payable within sixty days after production of the death certificate.   Loans outstanding with the deceased member will be offset through CHUNA MEMBERS BENEVOLENT FUND (CHUMBEFU), provided the deceased member was not in default in CHUMBEFU contribution for 3 months prior to death.
  3. Membership in the Society shall cease with effect from the date of a member:-
  1. Dying;
  2. Being expelled from the Society;
  3. Withdrawing all his shares;
  4. Ceasing to hold the qualifications stated in by-law 6;
  5. Failing to contribute shares continuously for three months without a valid reason.
  1. A member may at any time withdraw from the Society by giving sixty days written notice.
  2. A member who has withdrawn from the society may be readmitted after a period of one year, or such period as may be determined from time to time by the management committee.


  1. Following a resolution of member's in general meeting, authorization from the Commissioner, the society shall operate front office services; The front office services shall be carried out as provided in sub-rule (3) of Rule 52.
  2. The object of operating front office services shall be to avail additional  credit facilities to members, and specifically short term advances.