Lyamujungu Cooperative Financial Services Limited (LCFSL) started in August 1984 with 16 members, with a goal of providing cheap source of funds to members.

In 1985, the group elected a committee of nine (9) members that included the Chairman, Treasurer and Secretary.

In 1987, there was currency exchange with 30% devaluation, which hindered the progress of the group but later it stabilized and recruited new members.

In 1990, after recruiting more members, the group was registered as a Cooperative Savings and Credit Society No. 5695. The Institution had 250 members; with a share capital of UGX 44,222 and members’ savings of UGX 472904 covering three parishes of Nyakasharara, Nyanja and Burambira.

In 1996, LCFSL started close cooperation with Uganda Cooperative Alliance (UCA) and was selected to participate in the UCA/CCA (WID) project.

In 1997, the area of operation covered Kaharo Sub County and two (2) parishes (Nyanja and Birambo) in Maziba sub county.

In 1998, LCFSL opened offices and was officially inaugurated as Lyamujungu Cooperative Financial Services Limited. Presently, LCFSL has been in business since August 1984.

GOVERNANCE AND MANAGEMENT

The governance and management of LCFSL also includes: Annual General Meeting held once a year; Board of Directors comprising of 9 members with at least three females; Supervisory Board comprising of 3 members at least one being a female; Management and support staff; External auditors; Institution’s lawyer, arbitration team.