Jinja: In a bid to empower its members economically, the Uganda Police Council established the Exodus Savings and Credit Co-operative Society (SACCO) in July 2007. This initiative aimed to facilitate police officers pooling funds to access affordable loans, promoting their financial well-being and productive ventures.
Under the leadership of Julius Waiswa, the head of deduction and recovery, the Exodus SACCO executive recently organized an informative session for both members and non-members of the Kiira region. Covering Jinja city, Kakira, and Kiira North division in Jinja district, the region’s law enforcement officers gathered to understand the SACCO’s benefits and potential impact.
The one-day workshop, held at the Central Police Station (CPS) fire brigade hall in Jinja, attracted over 250 officers eager to learn about the diverse SACCO products. These offerings include the “H-Coy” account, which facilitates school fee loans at an 8 percent annual interest rate.
Notable amongst the products is the ‘Group account,’ designed to assist the family members of registered police officers, particularly spouses, in accessing loans. Additionally, the ‘Shilling to shilling’ product encourages members to save consistently over ten years, resulting in double savings. Emphasizing the importance of purchasing shares at a cost of UGX 10,000, the SACCO envisions a more secure financial future for its members.
Sergeant Jamila Namutanda, a trailblazer of the Exodus SACCO, shared her inspiring journey of transformation. Through share ownership and leveraging the SACCO’s loans at a 14 percent annual interest rate, her economic status significantly improved. Initially unaware of the SACCO’s potential, Namutanda’s life underwent a positive shift, prompting her to become a lifelong SACCO ambassador.
The Kiira Region Police Commander (RPC), SSP Rogers Sseguya, highlighted the value of share ownership as a means to foster economic empowerment. Commending the efforts of SCP Dr. Wilson Otuna Omuding, the SACCO’s board chairperson, Sseguya lauded the educational initiative and expressed officers’ strong intention to join the SACCO.