I set off to meet Teddy Nambooze, not just an employee of TRUDI Savings and Co-operatives (SACCO) Bank, but the founder and manager of the community bank.
It is evident that TRUDI Bank is Nambooze's effort to help her community in Kammengo sub-county fight poverty.
With no commercial bank yet in Kammengo town (the nearest being Centenary Bank, which is located 25km in Kayabwe town), TRUDI bank is the only financial institution in Kammengo sub-county.
Nambooze, who conceived the idea of the bank and spearheaded its implementation, is like a messiah among her employees and Kammengo natives.
What is more notable about TRUDI bank are the extra services it offers beyond what ordinary financial institutions do.
"From the start, I informed my fellow residents that I did not only want an institution that offered only banking services like commercial banks, but also a bank that seeks to improve the welfare of the community.
I am glad we are sticking by that vision," says Nambooze She adds, "When we provide banking and lending services to a member, we also avail them with life skills on how to achieve better standards of living in a rural setting like ours.
We teach our members things like the benefits of educating children, good feeding habits and how to live healthy lifestyles.
We also give them investment advice, make a follow-up on our members and monitor their progress. Bawonga, a resident, who runs the largest retail shop in Muyiba village, before joining TRUDI bank, was unable to meet the needs of his big family.
He joined the bank and was advice on how to supplement his income to include farming and animal rearing, as well as loan funds.
Today, he is able to look after his family. Josephine Namanya, a tailor in Butooro village, says she was renting a big shop, but only using it for tailoring, until she joined TRUDI Bank and was guided on how she could engage in other income generating activities at the same shop.
She now sells drinks and a few household items in the shop. Boda boda riders also testify that they have been helped by the bank through the extended loans to acquire their own motorcycles together with the farmers and market vendors, among others.
The bank has also helped households get solar electricity, water-tanks and school fees, among others.
First experience with banking
Nambooze traces the roots of her service back when she worked for The Hunger Project a nongovernmental organisation in Butambala, sub-county in Mpigi district.
After attaining her degree in business administration from Nkumba University in 2002. She also worked as a data entrant at the Ministry of Education, in 2006, an opening in rural banking came her way.
The Hunger Project came up with a project called the Kalamba Food Farmer Initiative to teach women in the area fi nancial skills to alleviate poverty.
Setting up a SACCO bank was part of the project's plans and Nambooze was recruited as a staff of the Kalamba Food Farmer Initiative (KAFFI) SACCO Bank. Shortly, she was promoted to the position of bank manager.
As a bank manager in Butambala, Nambooze was able to save and buy a plot of land in Kammengo in Kikunyu LC1, where she built a house.
Starting a women's saving group
Nambooze says when she began living in Kammengo sub-county, she realised the women in her own locality were so poor and lacked financial services. She got a conviction to offer her services in her home area, so she decided to quit her job at The Hunger Project.
"I approached a number of women and explained to them the need to start our own local financial development institution with pooled savings and trust women's group was born in September 2010 with 25 women," Nambooze recalls.
"We operated for two to three months, but since I had already seen a fast-growing institution in Butambala, I felt we were making little progress.
It was then that some members told me the problem was that we were only women, in a rural area where men controlled most of the resources and had more opportunities."
We resolved to bring men on board. Immediately we got more members and the savings increased. "It was also easier to get in more women because their husbands were part of the group.
The men brought in new great ideas, given their experience in business and finance ventures."
Growing into a SACCO bank
By September 2011, the membership of the group had grown to about 100 people and members realised that they needed extra financial help as their savings were no longer sufficient to meet their needs.
It was then that Nambooze, came up with an idea of forming a community bank. In October 2011 Trust Development Initiative (TRUDI) SACCO Bank was registered, upgrading the savings group to a SACCO bank.
They started focusing on forming more branches across Kammengo and Mpigi district. Nambooze was voted bank manager and employees were recruited.
A board of directors was also appointed among the members, while shares were sold out to members as per the amounts of savings they had.
The bank today has about 350 members from all over Mpigi district, the majority of whom are from Kammengo sub-county and a few from other parts of Mpigi.
Members use the bank to save and acquire loans. A monthly fee of sh5,000 is paid by each member for the daily running of the bank. Nambooze says the bank also invests in profitable ventures and the money is used to increase their funds and also pay shareholders.
Nambooze says their long-time ambition is to become one of the biggest local banks in Uganda, albeit one whose sole objective is poverty alleviation and not profit-making.
Nambooze's Background
Nambooze was born to Mr. and Mrs Sserwadda of Bulugu village in Butambala (formerly part of Mpigi district).She attended Bulugu Primary School, after, which she joined Kaggulwe Secondary School for her O and A' Level. She joined Nkumba University for a Bachelor's degree in Business Administration. She is a single mother of two.
FACT FILE
Nominee: Teddy Nambooze
Innovation: Started the first bank in Kammengo, Mpigi district
Quote: "I did not only look at an institution that offered only banking services like commercial banks, but also a bank that seeks
to improve the welfare of the community."
Contact: 0706891613