Police officers cry out over Sacco savings

Kampala- Police officers, who are members of the Exodus Cooperative Savings and Credit Society Limited, want the Inspector General of Police and the Ministry of Finance to enable them access their savings.

The officers told this newspaper at the weekend that the Sacco management has reportedly blocked them from withdrawing their savings for three months contrary to financial regulations. One officer said he saves Shs100,000 a month and wanted to withdraw the money to pay school fees for his children, but he was told that he had to wait.

Another officer said the Sacco closed its regional branch in western region leaving all officers to travel to the police headquarters at Naguru in Kampala to get their savings.

The officer said even when they travel to Naguru, they are not given their savings.

Efforts to talk to the Sacco chairperson, Mr Henry Kalulu, were futile as our calls went unanswered.

Response
However, the deputy police spokesman, Mr Patrick Onyango, said Mr Kalulu told him that members are able to withdraw their savings.
“Withdraws can be made from Monday to Friday at their headquarters and nine other branches across the country. You can visit any of the branches and witness the effectiveness,” Mr Onyango said yesterday.

The Sacco was established by the former Inspector General of Police (IGP), Gen Kale Kayihura, in 2007 and by 2015, it had more than Shs5b in savings.
In 2016, the Sacco, whose membership is more than 38,000, reduced the days it provides financial services from eight to four days in a month.
Mr Kalulu said then that they were overwhelmed by the number of loan applications.

After his appointment as IGP, Mr Martins Okoth-Ochola ordered for an audit of the Sacco but the report has never been given to members.

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