UNATU SACCO AND WALIMU SACCOs UNION
HOW UNATU MEMBERS CAN ACCESS AFFORDABLE LOANS THROUGH UNATU SACCO AND WALIMU SACCOs UNION
UNATU spearheaded the formation of UNATU SACCO through which members can access affordable financial services. UNATU SACCO is a legally registered and managed saving and cooperative society for teachers on Government payroll.
Important to note
i. UNATU SACCO is not managed/run by the Union. The SACCO is an independent entity that works under its own by-laws, terms and conditions with its own Board and staff. UNATU plays a supervisory role.
ii. While all members of UNATU are eligible for UNATU SACCO membership; the said membership is not automatic. A member/ teacher interested in accessing financial services through the UNATU SACCO must register with them following their set procedures.
iii. UNATU SACCO loan deductions on payroll are made under code 454 while UNATU membership subscription is made under code 257.
iv. UNATU SACCO loan interest is 15% annually.
For more information;
WALIMU SACCOs Union
Walimu SACCOs Union is a brain child of UNATU. The formation of WALIMU SACCOs Union was a result of negotiations between UNATU and the Office of the President which resulted into a promised UGX 25bn to supplement Teachers’ welfare in a phased manner.
WALIMU SACCOs Union was therefore formed as an umbrella body that brings together all Teachers’ SACCOs in Uganda to enable them decide on how the Presidential fund can be best managed.
Currently WALIMU SACCOs Union is the mandated manager for the UGX 25bn Presidential Teachers’ SACCOs fund.
Walimu Co-operative Savings and Credit Union (Walimu SACCOs Union) is an officially Registered Cooperative Union (Registration Number 10739/RCS) under the Cooperative Act, Cap. 112 and the Co-operative Societies Regulations 1992 of the Laws of Uganda.
Important to note
i. The Presidential fund to Teachers’ SACCOs is managed by WALIMU SACCOs Union and not UNATU.
ii. WALIMU SACCOs Union is not managed/run by UNATU. The SACCOs Union is an independent entity that works under its own, by-laws, terms and conditions with its own Board and staff.
iii. Teachers can only benefit from the Presidential fund through their primary Teachers’ SACCOs. WALIMU SACCOs Union does not lend to individual teachers but to Teachers’ SACCOs.
iv. In order to benefit from the Presidential fund, UNATU members are encouraged to form/ join Teachers’ SACCOs through which they can apply for affordable loans from WALIMU SACCOs Union.