On 24th March 20126, Millennium SACCO 2012 successfully held its 13th Annual General Meeting (AGM), bringing together over 400 member delegates, leaders, and distinguished guests in a vibrant and engaging meeting. The event provided an opportunity to reflect on the SACCO’s performance, share strategic direction, and reaffirm its commitment to serving its members and communities diligently.
The AGM was graced by several notable leaders; the Chief Guest, Dr Sylvester Ndiroramukama who serves as the Executive Director at Uganda Cooperative Savings and Credit Union (UCSCU), Millennium Sacco 2012 Founder Patron, Rt Rev Assoc Prof Fred Sheldon Mwesigwa, Bishop of North West Ankole Diocese Rev Amos Magezi, Bishop East Ruwenzori Diocese Rt Rev George K. Turyasingura and Fr Rev Zeddy Byabashaija, the Chair Person Supervisory Committee at Uganda Cooperative Savings and Credit Union Limited , alongside delegates from all nine branches, leaders of sister financial institutions, distinguished religious leaders and other invited guests.
In his remarks, the Chairperson of the BOD, Mr Fred Muhumuza reaffirmed Millennium SACCO’s unwavering commitment to transparency, accountability, and sustainable development. He noted that it is indeed through compliance to regulatory bodies that strengthens member confidence which in turn fosters Sacco development The Chairperson informed members of this year’s theme “Quality Growth, Member Value “, and in line with this, announced the opening of a new branch in Hoima, scheduled for 1st April 2026, as part of the Sacco’s strategic expansion. He further noted that additional expansion plans are underway, signaling steady growth and improved accessibility of services to members.
In his subsequent communication, the Chairperson urged members to embrace the use of digital platforms such as MSACCO Mobile Banking, which have been established by the SACCO to make transactions more convenient, safe, and fast
The Patron of Millennium SACCO, Rt. Rev. Assoc. Prof. Fred Sheldon Mwesigwa, delivered a compelling message addressing the growing concern of multiple borrowing among members. He emphasized that multiple borrowing remains one of the leading causes of loan default, urging members to exercise financial discipline, protect their credit scores, and safeguard members’ funds.
He further appealed to the authorities to establish a dedicated regulatory body for SACCOs, noting that SACCOs operate differently from commercial banks and should not be regulated under the same framework. He further appreciated HE Yoweri Kaguta Museveni for being on record calling upon the bank of Uganda not to overate SACCOs
In his remarks, the Chief Guest, Dr. Sylvester Ndiroramukama, commended the Board of Directors, management, and members for the SACCO’s impressive performance. He expressed confidence in the institution’s strategic direction and long-term sustainability and noted that Millennium Sacco is in the Top 10 Saccos in uganda in therms of perfomamce and profitability.
He encouraged members to actively participate in strengthening the SACCO by increasing their share capital. In a remarkable show of commitment, members pledged to purchase at least one share per month, a move aimed at strengthening the SACCO’s capital base and enhancing overall financial performance
The General Manager Mr Ronald Abaho, introduced a new and innovative product, the Humura Program, designed to support members and their families during times of loss.
Under this program, members contribute an annual fee of UGX 20,000, which provides coverage for themselves, their spouses, and up to four children in the event of bereavement. In the event of a Humura member’s death, the family is supported with UGX 5,000,000 and UGX 2,000,000 is paid out to a bereaved member at the loss of any or all registered beneficiaries.
The Humura Program was warmly received by members, who expressed strong support for the initiative, recognizing its value in fostering solidarity, community support, unity and financial protection within the SACCO community.
The meeting was not only informative but also colorful and engaging, reflecting the unity, strength, and shared vision of Millennium. The event reinforced the SACCO’s position as a trusted financial partner committed to improving the livelihoods of its members in all communities
