• Uganda
  • Resources
  • Access to Finance
  • VSLAS (Village Saving & Loan Associations)
  • VSLAS (Village Saving & Loan Associations)

How to start a Saving Group

 

  • Select/chose group members
  • Bring them together for a first meeting
  • Agree on group leader(s)
  • Discuss on issues to be addressed by the group
  • Appoint members to lead discussions for the upcoming gathering
  • Identify areas in which group members need capacity building
  • Invite speakers/experts
  • Decide on savings and timelines
  • Start tracking your finances

Village Savings and Loans Associations (VSLAs) in Uganda

A Village Savings and Loans Association (VSLA) is a self-managed savings and credit group that does not receive any external funding. It is also self-capitalized using the Rotating Savings and Credit Association (ROSCA) model, where people can pool their savings and borrow from them.

VSLAs have altered the development equation in marginalized communities by providing members with the means to cope with emergencies, build capital and re-create social dynamics. This supports genuine self-reliance of the members.
Women in business can utilise the flexible, informal terms for the credit access/loans. The requirements are less stringent in comparison to those of financial institutions such as commercial banks.
 

While VSLAs have filled the gap left by financial institutes, they are faced with several challenges including:

  • Formation and Management of the VSLAs;
  • Savings are too little to have a transformative effect;
  • Investments for expansion.
angle-left Uganda Cooperative Savings and Credit Union Limited (UCSCU)

Uganda Cooperative Savings and Credit Union Limited (UCSCU)

About UCSCU

UCSCU is the umbrella body of Savings and Credit Cooperatives (SACCOs) and supports the formation and development of safe and sound SACCOs to ensure that financial services reach the population across the country. UCSCU is formed, financed, owned and controlled by Savings and Credit Cooperative Societies (SACCOs).

Kind of support provided
  1. Book keeping and financial management
  2. Savings and other product development
  3. SACCO Governance
  4. Business skills development
  5. Financial literacy and deposit mobilization     
Enrolment criteria/requirements
  1. A SACCO must be registered with the Registrar of Cooperatives and operated along the principles of a Cooperative; being member-owned and governed for the benefit of the members themselves.
  2. VSLA  made of about 25 – 30 Members who select among themselves the chairman, secretary and treasurer. They agree on which day of the week they are supposed to meet and the amount each is supposed to save.
Additional services

Technical support and mentorship, VSLA formation training

 

Contact

Plot 239 Maganjo, Bombo Road, Kampala

Email : info@ucscu.coop,

Website : www.ucscu.coop Tel.+256414233601/0702660205

Mr.Collin Agabalinda - the SACCO Development Manager at the Project for Financial Inclusion in Rural Areas (PROFIRA) at UCSCU