AMOS K
Parents have been urged to start saving early for their children by opening Junior accounts in different SACCOs and other financial institutions to secure their future.
This call was made by the Chairperson of the Board, Tumwesigye George Owakukiroru, during the 5th Annual General Meeting of Christ the King Community SACCO. The meeting was held today at the SACCO premises in Rukungiri Municipality.
While highlighting the progress of the SACCO, Owakukiroru revealed that it has been in service for five years without registering any losses, which he described as a significant achievement.
Additionally, he reported an increase in profits from 19 million to 54 million shillings in 2024. Membership has also grown from 811 members in 2023 to 1,040 in 2024.
However, he pointed out some challenges affecting the SACCO, including stubborn defaulters and dormant accounts, which they are working to resolve.
Penelope Ainembabazi, the Manager of Christ the King SACCO, thanked the management, staff, and shareholders for their cooperation, which has contributed to the SACCO’s growth and increased profits. She expressed optimism about achieving even better financial performance in the future.
She also emphasized that the SACCO will continue to serve the community by conducting sensitization programs and outreach initiatives to promote both the development of the SACCO and its members.
Justus Tindigarukayo, the Assistant Manager of Centenary Bank Rukungiri Branch and the Guest of Honor at the function, commended the board members and shareholders for the SACCO’s rapid growth.
Tindigarukayo emphasized the importance of financial discipline, advising members to manage their loans wisely by using them appropriately and ensuring timely repayment.
He further encouraged members to buy more shares and increase their savings to boost both the SACCO’s profits and their own financial growth.
