Walimu SACCOs Union Ltd is a teacher Based Savings and Credit institution
Finance Ministry has given out UGX5 billion via Walimu SACCOs Union Ltd to different teachers’ Co-operative Savings and Credit Union (SACCO) to help struggling teachers during this Covid-19.
The funds have been channeled through the Walimu Cooperative Savings and Credit Union Limited (formerly Uganda Teachers’ Savings and Credit Cooperative Union Limited) the umbrella association of teachers’ SACCOs.
President Museveni announced and offered to Government Teachers a Grant of UGX25 billion (in installments of UGX5 billion every FY) to benefit from through their SACCOs by setting up economic activities to supplement their incomes and in turn improve standard of education in the Country.
The Walimu SACCOs Union membership is drawn from teaching individual members, employees in public and private schools across the country. The walimu SACCOs Union focuses on savings mobilization and credit initiatives in Uganda.
Mr. Stephen Nabende, the chairperson WaSU, while handing over the dummy cheques to the Sacco managers at WaSU in Kampala said the union was disbursing the UGX.5 billion from UGX.17.185 billion that was received out of the UGX.25 billion promised by the president in 2015.
“Walimu has grown greatly championing teachers’ economic development and to date UGX. 17.185b has billion has been received to enable the teachers to access funds through Walimu for their economic development,” said Mr Nabende.
Mr Nabende encouraged other teachers upcountry to open SACCOS under walimu SACCOs Union and said that they will keep disbursing the funds in phases as various Saccos keep sending their requests for support.
“When you look at areas like Isingiro, Ibanda, Dokolo and others they have inactive saccos, some do not have and without these Saccos’ teachers have no way to access such funds. So as Walimu SACCOS Union we shall be liaising with district leaders where there are no saccos so that teachers can directly work with Walimu,” said Mr Nabende.
According to Mr. Nabende, the funds disbused are going to be given out as loans to government teachers and the money will later be deducted directly from their salaries.
At least 22 Saccos with over 1,000 teachers across the country are set to benefit.
List of SACCOs given money
Hoima municipality teachers Sacco- Hoima (UGX65,950,000)
Olio Walimu Sacco -Serere (UGX24,500,000)
UNATU – Kampala (UGX1,537,200,000)
Budduda teachers’ Sacco- Bududa (UGX.314,200,000)
Madera Walimu Sacco- Soroti (UGX136,700,000)
Pangisa Sacco- Arua (UGX94,200,000)
Kaberamaido teachers Sacco-Kaberamaido (UGX433,500,000)
Mayuge town council Sacco- Mayuge (UGX145,000,000)
Mubende mityana teachers Sacco- Mubende (UGX638, 000,000)
Lira Urban teachers Sacco- Lira (UGX193,750,000)
Amuria teachers at work- Kapelebyong (UGX480,600,000)
Tororo municipal teachers- Tororo (UGX18,500,000)
Budadiri primary teachers Sacco- Bududa (UGX40,300,000)
Nasuti secondary teachers Sacco- Iganga (UGX20,000,000)
Iganga municipality council- Iganga (UGX28,000,000)
Greater chesower teachers sacco-bukwo (UGX50,000,000)
Bukooma teachers Sacco- luka (UGX40,000,000)
Busia Walimu teachers Sacco- Busia (UGX220,000,000)
Moroto high teachers Sacco- Moroto (UGX120,000,000)
Kasubi army primary Sacco- Gulu (UGX60,000,000)
Ntungamo municipality teachers Sacco- Ntugamo (UGX180,000,000)
Katakwi district teachers Sacco- Katakwi (UGX700,000,000)