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The Executive committee drafted 8 policies on 19th, April, 2024 with were presented to the 3rd UPSTU Members’ SACCO AGM […]

The Uganda Professional Science Teachers’ Union Members’ Savings and Credit Cooperative Society Limited is hiring! Available Positions: Interested applicants should

In this ProDev Hour session, hosted on 5th December 2024, we delve into practical strategies for effective loan repayment and how to maintain financial health. The session, facilitated by Chemisto Sulaiman, Treasurer of UPSTU Members’ SACCO, covers vital insights for science teachers and other professionals striving for financial stability despite enhanced salaries.
💡 Session Highlights:
1️⃣ Loan Repayment Strategies:
• Understand loan terms.
• Create a repayment plan and budget.
• Set up payment reminders.
• Make extra payments when possible.
• Communicate with your lender during financial challenges.
2️⃣ Loan Approval and Financial Management:
• The 6Cs Criteria for lending, condition (purpose), capital (shares), capacity (salary-to-loan ratio), collateral(security), character, (known behavior) and communication.
• Tips for cutting unnecessary expenses and increasing income.
• Advice on staying professional while pursuing side hustles.
3️⃣ Maintaining Financial Health:
• The importance of avoiding unnecessary loans.
• Tracking progress and prioritizing repayments.
4️⃣ SACCO Membership and Loans:
• Membership process: minimum fees, savings, and share capital requirements.
• Loan eligibility criteria and interest rates.
• Clarification on SACCO membership benefits, shareholding, and government regulations.
5️⃣ Interactive Q&A Session:
• Addressing concerns about group memberships, standing orders, and mismanagement rumors.
• Encouraging teamwork, investment in shares, and SACCO growth.
🔗 Topics Discussed Include:
• Types of loans: Emergency loans, salary loans, agricultural loans, business loans, and more.
• How to utilize SACCO membership for financial empowerment.
The session concluded with closing remarks by Chemisto, celebrating the SACCO’s growing membership and the positive engagement from participants nationwide.
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#UPSTUProDev #LoanRepayment #FinancialHealth #Empowerment #SACCO #ProfessionalDevelopment

As UPSTU Members’ SACCO receives its permanent certification from the Ministry of Trade and Industry, we take a moment to

We are thrilled to announce a momentous achievement in the journey of UPSTU Members’ SACCO. After months of dedication and

1. “UPSTU Members’ SACCO: Empowering Union Members Through Financial Stability” Since its inception in early 2020, UPSTU Members’ SACCO has