The Uganda Cooperative Savings and Credit Union (UCSCU) strengthened its financial position during the 2025/26 financial year, with members’ deposits, lending and share capital all recording growth, according to the union’s latest financial report.
Members’ deposits increased by 12%, from Shs1.36 billion in June 2025 to Shs1.52 billion by June 2026, while the Central Finance Facility (CFF) loan portfolio grew from Shs1.33 billion to Shs1.69 billion.
The growth was reported during UCSCU’s 51st Annual General Meeting at the union’s headquarters in Maganjo, Kampala, where members reviewed the union’s performance and future plans.
The union also recorded a 2.1% increase in share capital, which rose from Shs480.05 million to Shs490.05 million during the financial year.
Operational self-sufficiency improved from 91% to 92%, indicating a stronger ability by the union to cover its operating costs from operating income.
The growth in deposits gives UCSCU a larger pool of members’ funds, while the expansion of the CFF loan portfolio points to increased financing activity within the cooperative movement.
UCSCU Board Chairperson Col. Allan Tom Kitanda said the union would now focus on building on the progress while strengthening services to affiliated Saccos.
He said UCSCU had spent its first year under the current leadership focusing on institutional growth, service delivery and strengthening the cooperative movement.
Kitanda said the forthcoming UCSCU Strategic Plan 2027–2032 would provide a framework for translating the union’s ambitions into measurable programmes.
Kitanda said digital transformation would be central to UCSCU’s next phase, with plans to modernise its management information and core financial systems.
The union also plans to strengthen data collection and analytics, automate member and Sacco reporting, improve cybersecurity and develop digital channels to make its services more accessible.
“Technology should not be embraced for its own sake,” Kitanda said, noting that digital systems should improve efficiency, accountability, member experience and decision-making.
He said UCSCU would continue working with the Government, regulators and partners to create an environment in which Saccos can grow, innovate and better serve their members.
Minister of State for Cooperatives Alero Tom Aza said the increase in savings should be matched with stronger management and productive lending.
“Saccos are not personal banks,” Aza said, urging leaders to maintain professional and accountable management of members’ funds.
Aza challenged Saccos to use their growing financial resources to support members’ businesses, investments and other wealth-creating activities.
“Educate the masses of Sacco members on wealth creation and not consumption,” he said.
He also proposed the establishment of a cooperative bank to provide Saccos with affordable financing and called for a Sacco deposit protection fund to safeguard members’ savings.
UCSCU Chief Executive Officer Dr Silvester Ndiroramukama said the union would continue supporting Saccos to improve governance, institutional capacity and financial technology.
“We need to understand the expectations of younger members, provide convenient digital services and educate them on saving, collective investment and responsible borrowing,” Ndiroramukama said.
“SACCOs must therefore become more innovative if they are to remain relevant to a new generation of members.”
Ndiroramukama said UCSCU would also deepen partnerships locally, regionally and internationally to promote knowledge-sharing, benchmarking and innovation.
The union’s financial performance, together with its planned digital and governance reforms, comes as UCSCU prepares to implement its 2027–2032 strategic plan and support the next phase of growth in Uganda’s cooperative movement.
