What is Co-operative Society?
A co-operative society is an association of people registered under Kenyan co-operative law to meet common economic, social or cultural needs through a jointly owned and democratically controlled enterprise. Registration is administered under the Co-operative Societies Act. A SACCO is one kind of co-operative society, the kind whose business is savings and credit among its members.
A real Kenyan example
A dairy co-operative, a housing co-operative and a SACCO are all co-operative societies. Only the third takes member savings and lends them back to members.
Why it matters
The terms are used interchangeably in conversation and they are not interchangeable. A registration certificate proves a society exists as a co-operative; it says nothing about whether that society is authorised to take deposits, and nothing about its financial condition.