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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Co-operative banks in South Africa - a brief survey
Author:Satgar, VishwasISNI
Periodical:The African Communist
Geographic term:South Africa
Subject:credit cooperatives
Abstract:This study on cooperative banks in South Africa focuses on Savings and Credit Cooperatives (SACCOs) affiliated to the South African Credit and Cooperative League (SACCOL) Ltd. and Village-based Financial Services Cooperatives (VFSCs) affiliated to the Financial Services Association (FSA). Both SACCOs and VFSCs operate through exemptions from the Banks Act of 1990. At present, there are 11 SACCOs and five VFSCs. A brief history of cooperative banks is followed by an overview of the cooperative models in South Africa. The essential features of the savings and loan delivery system are then described, viz. membership, management and administrative structures, savings and investment policy, loans policy, and training.