Senior Commissioner of Police -SCP Wilson Omoding, the Chairman of the police Exodus SACCO has said the force’s financial scheme is blossoming thus refuting reports that they are struggling and its members suffering.
SCP Omoding’s response comes on the heels of the parliament probe which shows that many police officers have been coarced to join the Exodus SACCO and yet sometimes accessing their credit is a tag of war.
However, SCP Omoding said the SACCO’s current challenge is the continuous withdrawals of savings deposits by police officers. Omoding explained that members’ withdrawals have remained high constituting more than 69 percent of the total savings deposits every month.
“…the SACCO achieved significant growth in its loan portfolio, with a 48% increase, reaching UGX 45.8B. Savings withdrawals remained high at approximately UGX 557M per month, constituting over 69% of savings deposits during the period. Loan disbursement totaled UGX 28.69B with total assets reaching UGX 69.97B,” SCP Omoding said.
Parliament committee on defence and internal affairs discovered irregularities raised by police officers mostly recruited into the police force in 2015 and onwards. Members of parliament said junior ranking officers who comprise more than 91.6 percent of Exodus SACCO memberships are being coerced into joining the savings scheme against their will.
Police officers allegedly informed members of parliament during an investigation ordered by Deputy Speaker of Parliament Thomas Tayebwa, that when they were about to complete their training, they were provided with Exodus SACCO membership papers which they did not consent to.
“…those who vehemently refused to fill out forms for membership were held at ransom whenever they needed letters of undertaking from their superiors, following their need to access loans from other financial institutions. In such cases, letters of undertaking could only be issued to respective officers on condition that they filled out forms and formally joined the Exodus SACCO,” parliament reads in part.
Police has said the legislators did not adequately address the journey, achievements, and challenges of Exodus SACCO from 2020 when he took over as Chairman to date, including increased member participation, loan and savings growth, and financial empowerment.
“Exodus SACCO operates in accordance with the cooperative principle of Autonomy and Independence. The SACCO is an autonomous, self-help organization controlled by its members, with no interference from Police Management. It operates under the patronage of the Uganda Police Force to improve officers’ welfare,” SCP Omoding said.
Mary Nankinga, Exodus SACCO Member, said parliament report did not consider the fact that the last three years have made the officers savings and credit scheme very stable to the extent that the share capital stands at 13.1 billion shillings while member savings stands at UGX 31.1billion shillings.
SCP Omoding and Nankinga said if the SACCO was facing challenges as listed by the parliament probe, it wouldn’t have achieved the financial strides it has made in the last three years.
“Exodus SACCO maintains an updated membership register, prioritizing accuracy and reliability to comply with regulatory requirements outlined in the Cooperative Societies Act. Membership experienced a slight decrease to 41,798 in 2023 due to retirement, voluntary exits, and member deaths,” SCP Omoding said.
Nankinga said Exodus SACCO remains committed to transparency, accountability, and member autonomy. She added that they appreciate the Committee’s recommendations and assure stakeholders that appropriate actions have been taken to address each point.
“The SACCO engages its members directly through various channels such as Board, Management, Delegates, Community Liaison Officers (CLOs), and Unit commanders, providing updates on SACCO developments, including shares, savings, loan products, system upgrades, and addressing member concerns,” Nankinga said.
Following the parliament probe, Exodus SACCO management has written to the registrar of cooperatives regarding the issues raised in the report, providing supporting documentation. Omoding said they have also communicated with the Police Council, as the SACCO was established by a resolution of the council in 2007.