Members are not customers. Here is how cooperative ownership works.
A savings and credit cooperative is owned by its members. That changes the relationship completely.
One member, one vote
In a cooperative, decisions at the general meeting are made by members, typically on the basis of one member, one vote, not by the size of your shareholding.
Share capital is ownership
When you buy shares you contribute to the permanent capital of the institution. Shares are different from savings: savings are your deposits, shares are your stake.
Surpluses belong to members
When the SACCO performs well, members decide at the AGM how surpluses are used, including whether to declare dividends. Dividends are never guaranteed.
Accountability
Elected leaders answer to members. Audited accounts are presented to members every year.