Terms of Use & Membership Bylaws

Welcome to Family Savings and Credit Cooperative Society Ltd. (Family SACCO). These Terms of Use and Cooperative Bylaws govern your membership, savings accounts, credit applications, and use of our online portal. By applying for membership, accessing our systems, or depositing funds, you agree to be bound by these terms.

1. Membership & Registration

To obtain and maintain cooperative membership, you must satisfy the following conditions:

• Complete our registration process with accurate, current, and truthful identification details.
• Pay the non-refundable registration fee as specified by the board of directors.
• Purchase the minimum number of cooperative shares as defined in the SACCO bylaws. Shares represent your ownership in the cooperative and cannot be withdrawn but may be transferred to other members upon withdrawal.

2. Savings & Share Capital Accounts

Members are required to make regular, minimum monthly savings deposits as established by the General Assembly. Regular savings remain locked as collateral for borrowing and cannot be withdrawn unless you withdraw your membership entirely and clear all outstanding credit liabilities and co-guarantor responsibilities.

3. Credit, Loans, & Co-Guarantors

All loan applications are subject to evaluation by the Credit Committee, based on member savings, credit scoring, source of income, and collateral.

• Guarantor Liability: Members who co-sign or guarantee a loan for another member accept full joint-and-several liability. If the borrower defaults, guarantors are legally responsible for clearing the outstanding balance.
• Repayment Delinquency: Late payments will attract penalty fees. Delinquent accounts may be reported to credit bureaus and referred to legal recovery agencies.

4. Online Services & Conduct

When using the Family SACCO member portal, you agree NOT to:

• Share account access codes, PINs, or verification tokens with third parties.
• Use the portal for unauthorized, fraudulent, or illegal financial transactions.
• Deploy automated bots, scrapers, or viruses designed to extract data or compromise portal stability.

5. Intellectual Property

All content on this website, including logos, designs, typography, illustrations, text, and application engines, is the intellectual property of Family SACCO. You may not copy, distribute, or modify any materials without express written authorization.

6. Limitation of Liability

Family SACCO makes every effort to ensure continuous system availability and accurate account reporting. However, we are not liable for transaction delays, network failures, or data synchronization issues caused by third-party telecom operators, power grids, or events beyond our reasonable control.

7. Bylaw Updates & Amendments

These terms are updated periodically to align with resolutions passed by our General Assembly and amendments to Ethiopian cooperative legislation. Continued membership and use of our services constitute acceptance of updated terms.

8. Dispute Resolution & Governing Law

These terms are governed by the Federal Democratic Republic of Ethiopia's cooperative and civil laws. Any disputes, claims, or grievances arising from your membership will first be referred to our internal Mediation & Audit Committee. If unresolved, they shall be settled under the jurisdiction of the relevant cooperative arbitration tribunal.

9. Contact Information

For queries, disputes, or copies of the full physical cooperative bylaws, contact our legal and compliance office: