Wazalendo Sacco Launches 7th Cash Branch in Gulu City

The Uganda Peoples’ Defence Forces (UPDF) Savings and Credit Cooperative Society commonly known as Wazalendo Sacco (WSACCO) has launched a new cash branch in Gulu City.

This is now one of the 19 branches and 6 Liaison offices spread across the country.

One Liaison office is located in the Somali capital, Mogadishu, where UPDF is serving under the mandate of the African Union to neutralize the Islamic terrorist group Al – Shabaab.

Gulu branch will be the 7^th cash operating   branch, after Bombo, Jinja, Mubende, Entebbe, Kampala and Moroto branches and the 4^th branch operating outside the barracks.

 Why relocate from Barracks to Gulu City centre?

This Sacco says this will; extend convenient services to the members, prepare for the partial opening of the common bond that will allow other qualifying persons, groups and categories other than those covered in the current common bond to join WSACCO, offer members more flexibility in accessing services and provide free access to regulators while conducting their Supervisory work.

Currently, WSACCO is ranked the biggest SACCO in the country in terms of membership, capital, assets and loan portfolio.

WSACCO has won different awards of service excellence at national, continental and global level.

About WSACCO

WSACCO’s membership currently stands at over 90,000 members. Its Share Capital has grown to Ugx 221Billion over the last 17 years.

Deposits stand at over Ugx 307 billion while Assets now stand at Ugx 698.96 billion. The loan portfolio stands at over Ugx 595 billion.

Since disbursing its first loan in November 2007, a total of Ugx 1.952 trillion has been extended to members in both consumptive and development loans.

WSACCO has now embarked on the task of ensuring; member satisfaction, convenience and assessing what the aforementioned impressive statistics mean to the welfare of a member.