Speaking to Uganda Radio Network on anonymity condition, policemen and women across the ranks described the new requirements one must meet in order to access the loan as tough and discouraging.
Speaking to Uganda Radio Network on anonymity condition, policemen and women across the ranks described the new requirements one must meet in order to access a loan as tough and discouraging.
Police Officer Question New SACCO Guidelines
have decried the new requirements for accessing loans from the force’s Exodus Savings
and Credit Cooperative commonly known as Exodus SACCO.
Uganda Radio Network on anonymity condition, policemen and women across the
ranks described the new requirements one must meet in order to access a loan
as tough and discouraging.
Senior Commissioner of Police –SCP Wilson Omoding, the Exodus SACCO management,
in its new conditions issued on September 30, members must write to the
Inspector General of Police through their unit commanders which was not the
following conditions to be met to qualify for loan: The loan applicant must be
a member of the SACCO; Introductory letter, application to IGP through the unit
commander; Attach copies of the warrant card and national ID,” reads the statement
listing the new conditions.
officers who spoke to URN described the condition as intended to disable them
to access their money. Many said the previous procedures of writing to SACCO
management and presenting two officers of their ranks as recommenders were
enough and there was no need to set up new conditions.
applying for a loan in 2018 up to date I have never been successful; now these
new conditions will totally keep us away from getting loans," an officer lamented. "Sincerely, when
will my unit commander or IGP get time to look through into all our loan
THe Police SACCO
has 32,000 members and its total assets stands at 22.5 billion shillings. Net assets equal 7.5 billion shillings, share capital 4.8 billion shillings, retained earns stands at 1.5 billion
while members’ savings total to 9.6 billion shillings. Exodus SACCO has been in the
news for allegedly mismanaging police officers’ savings.
police officers have queried is retaining 20% savings of loanable amount to act
as collateral security. “20 percent savings of the loanable amount will act as collateral
security," says the notice. "Attach a copy of the bank statement, preferably two recent months of
your salary account. One should have orbe willing to purchase shares worth 10
percent,” the statement further reads.
speak to SCP Wilson Omoding, in order to explain what motivated the new
conditions were futile as he did not respond to URN calls. Nevertheless, the SACCO
leadership has increased loanable amount from 25 to 50 million shillings.
SCP Omoding's team has registered some commendable achievements. For example, they have saved police officers from trekking miles to Naguru
police headquarters to access loans or their savings. The SACCO has set up
branches in Mbale, Moroto, Gulu, Lira, Arua, Hoima, Fortportal, Mbarara and
Senior Staff Reporter
Joseph Kato is currently a Master's candidate at Makerere University. He holds a Bachelors Degree in Mass Communication from Kampala International University, a Diploma in Journalism and he's also a graduate in Guidance and Counseling.