UPDATES ON WSACCO OPERATIONS

UPDATES ON WSACCO OPERATIONS

PAYMENT OF RETIREES

Wazalendo SACCO has so far paid Nine hundred sixty-four (964) members out of the One thousand one hundred fifteen (1115) batch 10 soldiers who retired from active service this year. 57 of the cleared retirees opted to retain membership.

WSACCO has managed to fully pay out the holding of all those who opted to exit as follows;

SHARES                               964                 UGX 3,674,847,583

RETIREMENT SAVING      964                 UGX 2,364,132,341

ORDINARY SAVING                      964                 UGX163,950,141

TOTAL                                              UGX 6,202,930,065

RECRUITMENT OF NEW MEMBERS

WSACCO has recruited a total of Eight thousand two hundred twenty-six (8226) new members. The members were drawn from the recent passed out Uganda Peoples’ Defence Forces (UPDF) soldiers at Kaweweta Recruits Training School and the integrated Local Defence Unit (LDU).  This is in line with our strategic objective of growing membership.

As it is a culture at WSACCO, every member is encouraged to build his/her saving and share capacity. Working together with UPDF leadership WSACCO has recommended building shareholding in installments.This is aimed at enabling the new members smoothly build their shares with minimum strain.

So Far they have saved as follows.

SHARES                               –           UGX 442,070,000

ORD SAVING                                   –           UGX   65,877,272

RETIREMENT SAVING      –           UGX 583,646,256

DATA CAPTURE FOR NEW MEMBERS

We have so far data captured 3,858 of the newly recruited members and the process of the remaining ones is ongoing within the Training Schools where they have been taken for further training.

REFINING OF PRODUCTS

We have introduced Waza Quick Loan to replace the previous emergency loan. Its maximum amount is UGX 50M. The interest rate is 12% Per Annum and repayment period is one year. We have also introduced Business Savings Account that pays up to 7% interest Per Annum.  This account caters for savings other than salaries. We have also adjusted refinancing for loans above UGX 40M from 75% to 50%, members can access more details regarding the adjustments from their respective branches.

WSACCO STAFF BUS

Wazalendo SACCO has acquired a brand new 33 seater Bus Reg no UBH471E to ease the movement of employees to and from work. This will improve on time management and the overall performance of staff and the organization.

“SAVE FOR DEVELOPMENT”

 

CHARITY N NAMANYA

                                                                                                PRO WSACCO

 

Copy:

            PC WSACCO