Busia Teso Teachers Savings and Credit Co-operative Society Ltd. (BUTETE) was registered on18th March 1977 vide Registration certificate No. 2655.
Busia Teso Teachers Sacco was formed to promote thrift among its customers by affording them an opportunity for accumulating their savings and thereby creating a source of funds for providing affordable credit to its customers. The Common Bond was later expanded to include employees for the Sacco, Education ministry, Office of the President, ministries for Youth and special programs, KNUT, and any other organization(s) approved by the Board of Directors. To date, Butete has experienced substantial growth, with several organizations in its Common Bond and over 3,500 members
Busia Teso Teachers Sacco is registered under the Co-operative Societies Act 2004 .The Act, the Rules and Butete Sacco’s By-laws define the confines within which the Society carries out its operations. The Annual General Meeting, the supreme body of the Society, elects a Board of Directors of nine members which oversees the operations of the Society, and a Supervisory Committee comprising of three members. The committees of the board consist of the Executive Committee, Credit Committee, the Education Committee and the Investment and Procurement Committee. The board forms ad hoc committees from time to time as need arises