UPDF’S WAZALENDO SACCO OPENS A CASH OPERATING BRANCH IN GULU CITY

28th October 2022

 

Wazalendo Savings and Credit Cooperative Society (WSACCO) has continued expanding its network of cash operating branches. Gulu City branch that was launched on 28th October 2022 becomes its 7th cash operating branch and the 4th branch to be established outside the military barracks premises. The other three are Entebbe, Kampala and Moroto branches. The Gulu City branch is located on main street, plot Number 27 Gulu Avenue Road Opposite UMEME offices and Centenary bank.

 

Currently Wazalendo has a network of 19 branches and 06 liaison offices spread across the country with one liaison office located in the Somali Capital Mogadishu.

 

The 4th Infantry Division Commander Brig Gen Bonny Bamwiseki who officiated at the launch asked the people of Gulu to embrace the entry of WSACCO to Gulu city because the branch will not only benefit the members of the SACCO but also support the growth of the city and national economy because the funds accessed by the members from the branch will be spent within the city. 

 

Bamwiseki applauded the Commander In Chief and the UPDF leadership for a clear strategic direction that has brought peace and security and created a conducive environment for economic activity and businesses to thrive. He also lauded the President’s efforts to revive the economy and promoting SACCOs as vehicles for mobilizing the capital needed to enable the population engage in production and household income generation.

 

Bamwiseki called upon Gulu city and the Gulu District leadership and the community to learn from Wazalendo SACCO and help community SACCOs to grow and become sustainable. He concluded his marks by asking WSACCO members to take full advantage of the opportunities offered by the branch to improve their welfare through savings and access to affordable credit. 

 

Gen Simon Nicholas Ocan who was the special guest at the function and a former Chairman of BOD, CEO and SUPCO, congratulated Wazalendo SACCO family for the milestones achieved. He said that he was one of the people who were tasked by the late Gen Aronda in 2004 to research on the possibilities of transforming soldiers lives and he is happy that the formation of a SACCO was approved and adopted as the reasonable approach to address the welfare challenges among the service personnel.

 “Research and benchmarking had to be conducted from countries that had successfully implemented welfare schemes in the area of Cooperatives to address welfare of service personnel. Remember by that time, insurgency had ended in most parts of the country and now keeping soldiers home when they are poor was a potential security threat to the country that the leadership had identified. WSACCO started in 2005 ,with a lot of challenges but we were firm and resolute to achieve all that we have today”. Ocan stressed. He identified having a clear strategic direction and adherence to the SACCO’s Core Values of; accountability, integrity and professionalism among others as key success factors . 

 

The Chairman Board of Directors (BOD) Gen Sam Kavuma in a speech read for him by the Vice Chairman of the BOD Lt Col Allan Kitanda, appreciated the teamwork among the three organs of the SACCO, BOD, SUPCO and management that has enabled such results and success to be registered. He emphasized that the SACCO has the capacity to address the welfare challenges in the UPDF.

“What is the reason for any member of the UPDF to be poor given the natural resources Uganda is endowed with, the good infrastructure and peace and security that government has put in place?” Gen Kavuma asked. Gen Kavuma noted the need for mindset change if members are to benefit from the services offered by the SACCO.

 

Col Kitanda on behalf of Gen Kavuma appreciated the partner banks which have supported WSACCO’s journey and informed them that WSACCO is not in Gulu city to compete with them but to work together with the banks to deliver quality service to the members by closing the service gaps .

 

The Chairman of the SUPCO Col Justus Rukundo said that the role of SUPCO Is to ensure BOD and Management do what members tasked them to do. He noted that the launch of Gulu city demonstrates the implementation of AGM resolution and the strategic plan. ” We ensure members are getting the services that they deserve”.” Rukundo noted.

 

The Chief Executive Officer Wazalendo SACCO Col Joseph Freddy Onata, applauded the BOD for empowering management to be creative which has enabled them deliver to the expectations of the members. 

 

Onata noted that opening of Gulu city branch demonstrates the intent to continue improving the lives of soldiers and ensuring Member’s convenience and satisfaction. 

“Under the Cooperative Societies Principle of Cooperation among Co-operators, Wazalendo SACCO shall offer free training to upcoming SACCOs and allow them come to benchmark for best practices from WSACCO as well as sharing experiences at no cost”. The CEO pledged. He however advised those who shall come to benchmark with WSACCO not to just copy and paste what they see at WSACCO but modify everything to suit their individual SACCO unique environment and circumstances.

 

He said that WSACCO has taken it’s time to train it’s personnel to ensure that everyone understands the strategic direction so that the vision and mission are achieved. “We think that this is the right time for us to come out of the barracks because we are very confident of; our internal capacity, support from the line Ministries and UPDF leadership, support from our strategic partners (bankers and ICT providers) and Apex bodies.  “Our confidence is further backed by our own professionalism and impressive operational and financial performance. We believe that coming outside the barracks will strategically enhance our brand and create more growth opportunities. We are ready to support our members to engage in productive activities and contribute to national economy”. Onata said.

 

Col Onata outlined the reasons for WSACCO establishing branches outside the barracks that included among others; the need to extend convenient services to the members and enhance their satisfaction, to prepare for the partial opening of the common bond that will allow other qualifying persons, groups and categories other than those covered by the current common bond to join WSACCO, to offer members more flexibility in accessing services and to provide free access to members of the public and regulators while conducting their Supervisory work. 

 

He challenged the staff who are going to operate the branch to ensure that the branch becomes productive and serves members better and not to stand there as a “white horse”. 

 

The chairman LCV Mr Opio Christopher Ataker thanked the government for restoring peace in Gulu which has attracted opportunities for development in the area. He appreciated the 4th Infantry Division Commander for not only mobilizing for his SACCO but also mobilizing community to engage in productive activities.  

 

“I don’t move with escorts and I am safe because of the sacrifice of UPDF that stoped war in Northern Uganda. For that matter, I pledge on behalf of local government to mobilize for WSACCO and other SACCOs around to ensure they emulate Wazalendo methods of work. Am going to be your mouth piece because the SACCO is going to benefit everyone in Northern Uganda”. Noted Mr Opio.

 

The Director Operations Mr William Atalyeba presented impressive growth statistics that showed that WSACCO’s membership now stands at over 90, 000. He challenged the branch manager to continue growing the numbers because it is numbers that drive the business. He thanked the construction committee for the good work done to deliver the branch in the record time with good quality work done.

 

Compiled by:

Charity N Namanya 

Public Relations Manager

WSACCO.