The newly opened UPDF Wazalendo cash branch in Mubende to bring financial services closer to members.
The cash branch will not only be to withdrawal money but to enable and encourage members to save, learn the discipline needed to properly use money and to offer a platform for the members to make inquiries.
Jul 25, 2021 - 17:38
Wazalendo SACCO officials inspecting the new cash branch at Chieftaincy of Mubende Rehabilitation Centre (CMRC);
Wazalendo SACCO has commissioned a new cash branch at Chieftaincy of Mubende Rehabilitation Centre (CMRC); bringing the total number of cash operating branches to three. The other two being Bombo and Jinja branches.
The extension of cash branch network is intended to bring services closer to the members and relieving them the burden of struggling to access financial services from commercial banks and money lenders.
The Vice Chairman Board of Directors WSACCO Col Chris Ogumelaki who represented the Board Chairman; Maj Gen Sam Kavuma applauded the leadership of CMRC for availing WSACCO a building to remodel in order to have a branch inside the barracks.
Col Ogumelaki also appreciated the efforts by the BOD and management who planned and implemented the remodeling of the facility in record time and within the budget.
While officiating at the ceremony in picture above, Col Stephen Kalasanyi the Director Personnel and Administration in the Chieftaincy of Mubende Rehabilitation Center who represented Brig Moses Kwikiriza, the Chief of Mubende Rehabilitation Center appreciated the leadership of WSACCO for coming up with an idea of having a cash center at CMRC without looking at the size of the membership or capabilities.
He added that CMRC is a special unit with many soldiers disabled in the line of duty. He noted that this category of people need special attention both mentally and financially.
"Upgrade of Mubende branch into a cash center has been long overdue and it will make a great difference in the lives our people by supporting the projects that they have been engaged in," said the DPA.
He pledged that the CMRC leadership shall continue working hand in hand with WSACCO leadership to improve the welfare of the soldiers at CMRC.
" We are not here just to open a cash branch for withdrawal of money but to enable and encourage members to save, learn the discipline needed to properly use money and to offer a platform for the members to make inquiries," he observed.
The CEO Wazalendo SACCO; Col Joseph Freddy Onata in his remarks appreciated the UPDF leadership and the BOD of WSACCO for prioritizing the upgrade of Mubende branch to a cash operating branch,adding that this was one of the strategies of building liquidity by tapping into savings from cash obtained by the personnel at the centre from their projects.
In the same spirit the CEO was thankful for the support CMRC leadership has always given to the branch in terms of operating space, security, and other shared facilities which he said have enabled the staff to effectively execute their work and serve the members with ease.
Col Onata appreciated the management team for their tireless efforts to ensure that WSACCO members are always central to its operations.
Also in attendance were senior officers from CMRC, WSACCO BOD and Management members and other invited guests.
WSACCO has a total of 19 branches spread across the country.
WSACCO was established in 2005 and has been in operation for 16 years.
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