Jubilee Sacco Launches Electronic Banking

Jubilee SACCO, the West Ankole Diocesan financial institution, has adopted and launched electronic/mobile banking service, an innovative channel for service delivery.

The launch presided over by Rev Didas Natweta, the Diocesan Secretary, West Ankole Diocese, took place on Wednesday, 28th August 2019 at the SACCO head office in Bushenyi town.

Jubilee Sacco will be getting electronic banking services through MSACCO, a key system engineered by Future Link Technologies in partnership with Uganda Central Cooperative Financial Services Limited(UCCFS). The new service will enable Jubilee SACCO provide mobile financial services to its members and customers respectively.

Speaking at the launch, Rev Natweta said the development is a sign that Jubilee SACCO is growing and progressing on well as it metamorphoses into a bank.

Present were Jubilee SACCO leadership and selected delegates from different parts of the Diocese.

With Mobile banking service, Jubilee SACCO is set to experience direct bearing on its organizational performance improvement.

Members will be able to deposit and withdraw money from their respective accounts and make payments to various SACCO products through MTN Mobile Money or Airtel Money services, which have at the same time been simplified for use though they are still being upgraded by service providers.

 The Benefits

To Jubilee SACCO Members

Convenience

Jubilee SACCO members will be able to transact from anywhere and at any time.

Save Money and Time

 Customers, especially from the far areas will not have to spend time and money traveling to the main and regional branches any more. They will only need their phones.

Accountability

Jubilee SACCO members will now monitor the activities on their accounts while they are seated in their houses or gardens. This will allow them keep track of their money on the phones.

They will also achieve a better credit rating by transacting more often.

To Jubilee SACCO

Customer Retention: Regardless of which trading center, village, parish, archdeaconry, Jubilee SACCO members shift to, the SACCO will keep serving them through MSACCO/electronic banking.

Cheap business

There won’t be any need for setting up multiple banking halls at Archdeaconry centers any more. Jubilee SACCO members will no longer need to come to Bushenyi because the service will be accessed on their phone.

Jubilee SACCO will also be able to generate repetitive income from mobile banking transactions and this will help it to grow.