The Y-Save Journey
Y-Save was started on 24th January 2000 initially as a saving & investment scheme by a group of Young Working people of the then Kampala Pentecostal Church (KPC) and now Watoto Church, called the Young Workers. At its inception, Y-Save was called Y-Save Micro Finance Association.
Over time, the membership of the saving and investment scheme has grown to accommodate other church members who are actively involved in the activities and programs of Watoto Church.
Y-Save got registered with the Registrar of Cooperatives in the Ministry of Tourism, Trade & Industry and it changed its name to become Y-Save Cooperative Savings & Credit Society Ltd on 26th November 2004. Due to the needs of the members of Y-Save to collectively get involved in other areas of business and investments, Y-Save changed its Legal status on 22nd May 2013 to become Y-Save Multi-Purpose Cooperative Society Ltd.
Since its inception, Y-Save has gone on to thrive and become one of the leading Cooperative organisations in Uganda. With integrity as its foundation, Y-Save believes in establishing godly financial principles which through centuries-old, comprise the most dynamic and relevant vehicle for financial management, freedom, and growth.
Our main Objective is to teach the members the culture of savings.
- To encourage its members to save and use their savings constructively.
- To encourage its members to reach out and share the Gospel of Christ at their workplaces and within their community.
- To promote thrift among the members by affording them an opportunity for accumulating savings and paying reasonable interest without risk on such savings
- To encourage members to excel in their trades professions and businesses and do their best to bring Glory to God right where they are
- To create a source of fund from which Y-Save can afford relief to members in need by availing credit to its members for productive, provident purposes and in emergency situations at fair and reasonable rates of interest under given terms of repayment.
- To promote and encourage the culture of giving in Y-Save and its members and in so doing give to charities and noble causes like orphanages
The Y-Save Mandate
Provision of financial literacy platforms and services to Watoto church members based on Co-operative principles
Member Value and Proposition
Y-Save is committed to providing timely and relevant financial products and services
A Y-Save member with sustainable income sources
To Support and mentor 50% of Y-Save member to maintain at least two sustainable sources of income by 2024
On behalf of the Board members, I am pleased to welcome you to the Y-Save website. Our goal is a Y-Save member with sustainable income sources. We are excited to walk this journey with you.
I would like to thank Watoto Church for allowing us to recruit members from our common bond and all the members for giving us an opportunity to serve you and steward your resources.