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UCBA-SACCO MANAGER’S REPORT

YEAR ENDING 2013

(COURT BAILIFFS COOPERATIVE SAVINGS AND CREDIT SOCIETY LTD)

 1.   INTRODUCTION
We are all aware that the world is turning into a global village! Money-matters and financial markets have indeed become very dynamic and more complex! It is on this basis therefore that we, the members of Court Bailiffs Cooperative Savings and Credit Society Ltd must re-engineer our joint efforts to operate a vibrant SACCO business to address some of the financial bottle-necks the members face. This write up highlights the accomplishments, the challenges and planned activities/recommendations for the UCBA-SACCO.
2.   ACCOMPLISHMENTS
The following are some of the achievements made in the short time of operation.

1. Some of Internal non-existent operational documents have been designed. These include receipt books, payment voucher, internal requisition forms, invoice sheet that is now being used by the UCBA-SACCO in its internal operations .
2. We have designed and developed membership application forms, members’ pass-books, membership ledger sheets and similar documents which shall be used to recruit members, enable members to buy/transfer shares and other similar transactions to step-up the income of the SACCO.
3. We have identified, negotiated and reached an understanding with several accounting software developers to set up an M.I.S for the SACCO. One of them is willing to avail their software for free use until the SACCO reaches a growth mark of 200 clients/accounts. What is now required is to procure a computer or laptop for the software to be installed. This shall make record keeping and financial management easier and efficient.

3.   FINANCE OUTSOURCING
I have managed to meet and negotiate with several potential funders who have welcomed our initiatives and are willing to partner up with us as the SACCO grows. In particular, the following showed interest in us.
a.   Microfinance Support Center (MSC)
This is the official organization meant to financially support SACCOs and MFIs. There are a number of requirements to pre-qualify any SACCO before benefiting from the center. The list of the same can be read from their website.
b.   Stromme Foundation
Offers whole sale lending to SACCOs and MFIs. It also offers a range of other  services offered to people with low incomes. These non-financial services, such as training within administration, management, insurance and marketing.
c.   ECLOF
They offer sustainable financial assistance or a loan with a lending strategy and policies rooted in the concept of community for human development. They are willing to partner with us.
d.   DFCU BANK-Unsecured Club Loan
Their loans/funding is through dfcu Investment Club Account which allows club members/entrepreneurs (both existing and potential) to pool their savings and take advantage of opportunities like the unsecured Club Loan and access to financial literacy training.
4.   SOFTLOANS
During this first year ending, we have operated under a very tight financial budget due to limited income base. However, we managed to appraise and disburse loans to more than ten (10) applicants/beneficiaries. We hope to serve more that fifty (50) applicants in the following financial year.
5.   PLANNED ACTIVITIE
As we approach the  year 2014, we plan to accomplish the following:
PHASE I

1. Organise workshops and conduct marketing/awareness in-house promotions to all members, Directors, SACCO committees, management and other stake holders.
2. Officially launch the SACCO to increase publicity and awareness amongst members.
3. Conduct a survey among Insurance companies in an effort to identify an appropriate insurance partner to cover SACCO-LOANS borrowers so as to protect SACCO finances in case a borrower gets an accident or is incapacitated.
4. Enroll as a member to Uganda Cooperative Savings and Credit Union (UCSCU) which offers capacity building/training to SACCO committee members, sub committees, SACCO management and general membership (plus offering technical and other services) for a steady growth.
5. Mobilize and increase start-up capital which should be injected in the SACCO for more profitable operations.
6. Fundraising:- we shall aggressively follow up on finance-sourcing  from potential financiers like:

                                                            i.      Microfinance Support Center (MSC),
                                                            ii.      Stromme Foundation (whole sale Microfinance lender)
                                                            iii.      ECLOF Uganda
                                                            iv.      DFCU Bank
etc.
PHASE II

1. Develop better strategies to sale more shares to members to increase the SACCO finances.
2. Developed :

                                                         v.      A two-in-one Operations User Manual containing:
                                                         vi.      Financial and Accounting Policies to address all issues concerning SACCO finances (money matters) at the same time be used in setting up an efficient and effective accounting system for the SACCO.
                                                         vii.      Operations Procedures manual for day-to-day activities of the SACCO.

1. Develop a three-year strategic plan document that is meant to guide the UCBA-SACCO on both short term, medium and long term/range projections. On completion, it shall act as a road map for both management and the executive committee/the board in steering the UCBA-SACCO forward.
2. Increase our lending capacity and  loan portfolio to over 30 million so that more members can access loans at very flexible, affordable and friendly terms
3. Prepare and submit annual returns with registrar of companies.
4. Apply for and follow up permanent certificate from registrar of cooperatives. 

6.   CHALLENGES

1. 1. Limited funds. Due to limited funds, many loan applicants have not been served.
   2. Offices for the SACCO. We have been hosted by the parent body- UCBA for two years. It is high time the SACCO secured business offices as required by the cooperative law. Without SACCO offices, it may be difficult to secure soft loans from Microfinance Support Center and from other donor.

7.   UPCOMING EVENTS

EVENTS	PROPOSED DATE
UCBA-SACCO awareness creation	December 2013
UCBA-SACCO  A.G.M	JAN./FEB.2014

8.   CONCLUSION
All members are advised and encouraged to complete their membership process by paying annual subscription fees of UGX 20,000 (twenty thousand shillings) and buy at least one share at UGX. 50,000 (Fifty thousand shillings only). For more information about the SACCO please contact the following: