Below are some benefits accruing to members of the program:
- Secure savings: AICB Savings and Credit Cooperative Society facilitates long and short term savings. Appropriate controls have been put in place to protect member funds. AICB SACCO is duly registered with the Ministry of Cooperative Development and Marketing and is bound by its guidelines. Children (under 18 years) save under the watch of their Sponsors (Members of SACCO).
- NO hidden Costs on loans: SACCO loans have no hidden charges and interest rates do not change over the lifespan of the loan as is the case with many financial institutions.
- Financial growth: Opportunity to engage in conscious wealth creation through smart investment programs towards financial freedom. Pooled funds make for a substantial financial base thereby facilitating participation in superior investment programs. Pooling also minimizes risk for the individual hence better rewards. Members participate in decision making through formal Annual or Special General Meetings.
- Credit facilities: An assortment of loans at affordable interest rates for members. Multiple loans may run concurrently, provided that they are properly guaranteed. This benefit is especially helpful for organizations without in-house credit facilities for their employees/members.
- Value Add offerings: Products that assist Sponsors in the proper nurturing of the child. Target areas include education and medical
- Money skills: Structured training of child in financial literacy enables them to understand the value of money, make good decisions about money, recognize and exploit financial opportunities and avoid financial pitfalls. The practical and theoretical approach makes the learning experience enjoyable and reinforces competency development and retention.
- Positive Values: To curb the culture of entitlement and dependency (handouts) the program stimulates and inculcates in participants the important values of responsibility, self reliance, motivation, planning and sharing.
- Productive application of foundation years: The advantage of compound earnings through early saving and investing. Time is our most precious resource and our most valuable asset. It is however fleeting and finite.
- Convenience and flexibility: In learning approach, member and account management, saving etc.