Wazalendo SACCO Encourages Retiring SFC Personnel To Maintain Membership

Wazalendo SACCO has urged retiring Special Force Command officers and men to maintain their membership and continue benefiting from the cooperative’s financial services after leaving active military service.

The call was made by the Vice Chairperson of the Wazalendo SACCO Supervisory Board, Maj Newton Namazima, while congratulating 67 officers and men of the Special Forces Command (SFC) at SFC Headquarters.

Maj Namazima encouraged the retirees not to view retirement as a reason to withdraw from Wazalendo SACCO, noting that many of them have been members and investors in the institution since its establishment in 2005.

“Retirement should not mean that you chase yourself away from Wazalendo SACCO. If you exit because you are retiring, you are the one who will lose as an individual because the SACCO continues to provide opportunities for its members,” he said.

He explained that retirees can continue saving through standing orders from their commercial bank accounts, allowing them to maintain their savings and access loans and other SACCO services.

Maj Namazima also encouraged retirees engaged in business to open business accounts, channel their earnings through Wazalendo SACCO and maintain proper financial records.

He said proper financial records would enable the SACCO to assess the performance of their businesses, making it easier for them to access loans at more favourable interest rates than those offered by commercial banks.

Maj Namazima urged the retirees to make prudent use of their retirement benefits and continue investing in productive ventures to support their financial wellbeing after service.

Wazalendo SACCO, established in 2005 for Uganda Peoples’ Defence Forces personnel, Ministy of Defence and Veteran Affairs and their families, has grown into a robust financial cooperative that offers tailored savings, credit, and investment solutions to its members.