The Federation of Saving and Credit Cooperatives of Thailand Limited

Topics: Cooperative, Housing cooperative, Personal finance Pages: 3 (555 words) Published: June 18, 2013
The Federation of saving and credit cooperatives of Thailand Limited

History Background
* SACCO ( Saving and Credit Cooperative ) Was organized in 1949 * FSCT ( Federation of Saving and Credit Cooperative of Thailand ) was established in 1972 under the Cooperative societies act with supports from 81 SACCO * FSCT and SACCO were registered with Ministry of Agriculture and Cooperative. Also they were declared as Financial Institutes by the Notification of the Ministry of Finance in 1983 SACCO

Objective
1. Encourage Thrift among members and encourage the habit of saving, The Cooperative now offers two types of saving: * Shares
* Deposit
2. Provide loan service to members, the member’s shares and deposit will be combining into the loan funds which made available to member that need. Which load are separate into three types * Emergency loans: In case of emergency or crisis situation. * Ordinary loans: The loan can up to maximum of their half of member’s income * Special loans: It is available to members for housing

Process
Members are represented to elect to form board of direction to administer cooperative operations. Also the boards are in duty to meet at least once a month to select the operational policies. The board of direction includes a manager, assist manager, accountants, bookkeepers, and else, depending on the size of financial situation. Member of SACCO

* Voluntary basis in joining and leaving
* Not less than 10 members per SACCO
* Member must be natural person and sui juries
* Age must not less than 18 years’ old
*

* Holding at least one share (0.33 cent) but not more than one-fifth of the total share capital * Equal voting right as the principle said “ one man one vote”

The FSCT have the performance excellence framework have 7 steps: 1. Leader ship
2. Strategic Planning
3. Customer & Market Focus
4. Measurement, analysis and KM

5. Human Resource
6....
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