Exodus Savings and Credit Cooperative Society Limited
|Products||Loans, Savings, Investments|
|Total assets||US$2.7+ million (UGX:7 billion) (2012)|
Exodus Savings and Credit Cooperative Society Limited, also referred to as Exodus Sacco, is a savings and credit co-operative society in Uganda. It is an institutional Sacco, composed of Uganda National Police (UNP) personnel and their families.
As of April 2014[update], it has total assets were valued in excess of US$2.7 million (USh7 billion), with approximately 21,500 members. Membership is restricted to the men and women in active service with the UNP and members of their families. The main objective is to mobilize savings from members and make loans to members at reasonable interest rates to improve their welfare. Exodus Sacco is the second-largest security forces-related Sacco in Uganda, behind the much bigger Wazalendo Sacco. There is another Uganda Police Sacco called Police Savings Association Limited (PSAL), which was started in 1989, and the two Saccos compete for members.
The Sacco was formed in Kampala, in 2007, to be operated by members of the Uganda National Police, for the benefit of members of the UNP and their families. The concept was introduced to police units in other areas of the country, with mixed success.
As of April 2014[update], Exodus Sacco maintained the following branches:
- Kampala Main Branch - Kampala
Exodus Sacco is governed by a nine-member Executive Committee, chaired by Laban Muhabwe.
- Nakabugo, Zurah (11 April 2014). "Police Sacco To Offer Loans To Ugandan Public". The Observer (Uganda). Retrieved 2 September 2014.
- Bagala, Andrew (1 March 2012). "Senior Officers In Row Over Savings". Daily Monitor Mobile (Kampala). Retrieved 2 September 2014.
- URN, Reporter (4 April 2009). "West Nile Police Reject SACCO". Uganda Radio Network (URN). Retrieved 2 September 2014.
- Uganda National Police, . (28 May 2012). "Police Sacco Savings Hits Shs2 Billion". Uganda Police Force via Facebook.com. Retrieved 2 September 2014.