The Bishop of Mukono Diocese, Rt. Rev. Enos Kitto Kagodo, has commended MUDI SACCO for its remarkable growth and resilience while urging members to use loans responsibly and ensure timely repayment to safeguard the institution's continued success.
He made the remarks during the SACCO's Annual General Meeting (AGM), where he emphasized that borrowing should be viewed as a tool for development rather than a burden.
"Borrowing or taking a loan is not a curse, but when one fails to repay, it becomes dishonesty," Bishop Kagodo said.
He encouraged members to embrace honesty, hard work and accountability in all financial dealings, noting that these values are essential for the growth and sustainability of the SACCO.
The bishop further challenged members and leaders to work towards transforming the SACCO into a stronger financial institution capable of serving more people and improving livelihoods. He also urged the leadership to promote transparency and trust, stressing that integrity remains the foundation of any successful cooperative society.
Bishop Kagodo encouraged members to act as ambassadors of the SACCO by sharing positive experiences and mobilizing others to join and benefit from its services.
"If something is good, share it with others," he said, adding that members should help counter negative perceptions by demonstrating the SACCO's achievements and encouraging wider participation, including access to loans.
He commended the SACCO leadership for investing profits in various projects, noting that such initiatives help diversify income sources and strengthen financial stability.
The bishop also recommended the introduction of regular training and financial literacy programmes to improve members' understanding of financial management, expand networking opportunities and strengthen mutual support within the SACCO community.
He further called for unity among members, stressing that collective growth can only be achieved through shared commitment and cooperation.
"Let us remain united in all that we do so that we can grow together and achieve greater success as a community," he said.
His message came as both the Board and Management presented reports highlighting strong performance during the 2025 financial year.
Presenting the Board Report, Vice Chairperson of the Board, Suzan Wamala Sserunkuuma, on behalf of Board Chairperson Rev. John Joseph Bumanye, reported that the SACCO registered 124 new members across its three branches, strengthening its membership base.
She noted that the institution remained financially stable throughout the year, enabling members to access their savings whenever needed.
Ms. Sserunkuuma further reported that MUDI SACCO disbursed loans worth Shs1.006 billion in 2025, up from Shs886.9 million in 2024, reflecting increasing demand for the institution's financial services.
She urged loan beneficiaries to repay on time to ensure sustainability and maintain the SACCO's lending capacity.
The Management Report, presented by SACCO Manager Brenda Kawuma, highlighted continued growth in membership, savings, investments and income. She reported that members' savings rose to more than Shs1.18 billion, an indication of growing confidence in the institution.
Ms. Kawuma also outlined several achievements during the year, including improved service delivery, acquisition of office equipment, installation of surveillance cameras, purchase of motorcycles to strengthen operations and loan recovery efforts, production of a SACCO documentary and enhanced protection of members' deposits.
She further reported that the SACCO posted a net surplus of Shs42.2 million after provisions for bad debts and reserve allocations.
On investments, Ms. Kawuma noted progress in land acquisition and sugarcane-growing projects at Kavule and Gonve, where all available acreage is now under cultivation. She said the investments are expected to generate additional income and strengthen the SACCO's long-term sustainability.
Despite the positive performance, both the Board and Management reports highlighted several challenges affecting the institution, including loan defaulters, dormant member accounts, negative propaganda, a growing loan portfolio at risk and a long-standing legal case involving a former manager.
Savings and Credit Cooperative Organizations (SACCOs) continue to play a significant role in promoting financial inclusion in Uganda by providing affordable credit and savings opportunities, particularly for communities and groups that may have limited access to conventional banking services.
