Rushere co operative Savings and Credit Society Ltd is a SACCO that was originally called Rushere Co-operative Savings and Credit Development Association but later changed to its present name in 2004. It was formed as a company limited by share capital owned by share holders originating from Nyabushozi County with the aim of providing financial services to the rural active poor people in Rushere community and surrounding areas of Kiruhura District.
The idea of starting this financial institution was initiated by a catholic priest REV Fr.Paulino Tomaino, who initiated vigorous mobilization of members in various catholic churches in order to start up a vibrant financial institution in Nyabushozi that can empower all the communities in the District. On 14th November 2001 a mobilization meeting was held and the members formed an interim BOD of 15 members who were charged with the responsibility of sensitizing communities in Nyabushozi and have the institution registered and begin operating. The institution started with 50 members and later in February 1st AGM was held where 14 BOD members were elected and confirmed .After a few months the institution was registered as a private company limited by shares and member owned.
The major purpose of this Institution was to mobilize saving deposits from its members and intermediating these savings in form credit services to its members. In 2003 the Government of Uganda through the Bank of Uganda passed a Legislation to legalize all Micro Finance Institutions that were involved in mobilizing deposits from the public. The micro deposit taking institution (MDI) Act was passed and according to RUSSO which was still a village bank, started its transformation process and in 2004 it was transformed into a Savings and Credit society. Rushere SACCO was officially registered on 7th October 2004 with a certificate of registration number7139 under the provision of section 5(2) of the Cooperative society’s’ statute1991.
The SACCO was founded and is now owned by over 13000 active and fully paid up members of Kiruhura, Ssembabure, Kyegegwa, kamwengye, Ibanda, Mbarara, Kyenjojo, Lyatonde and surrounding district. Rushere SACCO currently has six branches that is Rushere Branch, Nyakasharara branch, Kinoni branch, Rwemikoma Branch, Sanga and Kyeibuza Branches with outreaches in Rwemiyaga and Kyera in Ssembabule and Kyenshama in Kashongi.
- To develop the rural sector through encouraging savings and credit services to the rural active poor micro entrepreneurs.
- To mobilize, educate and train masses in techniques of savings, loan management, project identification, establishment and management.
- To establish and build capacity of available and sustainable micro Finance Institution through which savings and credit services can be channeled.