The Police Exodus Savings and Credit Cooperative (SACCO) has recorded strong growth, with membership rising to 43,000 officers and total assets reaching Shs96.8 billion.
During its 13th Annual General Meeting, the SACCO also revealed that members have accessed over Shs30 billion in loans, with a significant portion benefiting junior officers—highlighting its expanding role in promoting financial inclusion within the police force.
“We are seeing tremendous growth in membership and financial strength, and this is a clear sign of trust in the SACCO system,” said Board Chairman SCP Wilson Omoding.
Police leadership noted that plans are underway to further enhance member benefits through affordable loan products, housing projects, and land acquisition initiatives aimed at improving long-term welfare and financial stability.
“Our focus is to ensure that officers benefit more through reduced-cost loans and long-term investments in housing and land,” Omoding added.
Meanwhile, the Deputy Inspector General of Police cautioned officers against mismanaging their savings and turning to loan sharks and unregulated money lenders, warning that such practices undermine wealth creation.
“Officers must avoid money sharks and unregulated lenders. Build a culture of saving and allow your money to grow through interest,” he said.
He also emphasized the importance of early financial planning, noting that pension benefits are limited. “It is important to prepare early for life after the police force because pension only supports you for a limited period,” he added.
The Deputy IGP further urged the SACCO to embrace digital transformation and expand investments in land and housing to secure members’ long-term welfare. He also called for the introduction of tailored financial packages to support retirees transitioning out of active service.
The meeting also recognized outstanding officers and savers, with awards presented in categories such as Shareholder of the Year and Saver of the Year—celebrating discipline and commitment among members.
