Banking on Education: dfcu rewards borrowers and school fees payers
The winners received their cash prizes at dfcu Bank’s Head Office in Nakasero, Kampala, as part of the three-month initiative aimed at reducing the pressure parents and school owners face at the start of a new academic term.
dfcu Bank has rewarded eight customers in its ongoing nationwide “School Fiiz! Weight Off!” campaign, reinforcing its commitment to easing the financial strain that typically accompanies the back-to-school season for families and education institutions across Uganda.
The winners received their cash prizes at dfcu Bank’s Head Office in Nakasero, Kampala, as part of the three-month initiative aimed at reducing the pressure parents and school owners face at the start of a new academic term.
Launched ahead of the first term that began on 10 February, the campaign is structured as a comprehensive education financing solution targeting the entire education value chain, parents, guardians, students, schools, and education suppliers. Through convenient payment platforms, accessible credit facilities, and insurance solutions, dfcu seeks to address both the financial and emotional stress often associated with reopening schools.
Ssekidde Alex, a medical assistant at Rakai Hospital and one of the beneficiaries, praised the bank’s school fees loan product for offering timely support.
“As the first term approached, I was worried about how I would raise the school fees,” he said. “Through dfcu, I accessed a loan quickly and paid on time. The process was fast and efficient, which made a big difference.”
Another winner, Doreen Muhoza Kamugisha, expressed gratitude after receiving a cash reward for paying school fees through the bank during the campaign period. She described the reward as a welcome boost at the beginning of the school term.
Under the campaign, parents and guardians who pay school fees of at least UGX 300,000 through dfcu’s channels, or borrow with a minimum net take-home amount of UGX 15 million, qualify for weekly draws. Each week, 15 customers are rewarded: five for school fees payments and 10 for borrowing. In total, 195 winners will be recognized over the three-month period. Borrowers receive tiered rewards ranging from UGX 200,000 to UGX 500,000 depending on the loan amount.
The initiative also extends to schools. Institutions that grow their school fees collections through dfcu by at least 20 percent, meeting minimum thresholds of UGX 500 million for Kampala-based schools and UGX 300 million for upcountry schools, or take up a bancassurance policy during the campaign stand a chance to win a Library Stock-Up worth UGX 5 million to strengthen their learning resources.
As part of the broader package, dfcu is offering unsecured personal loans of up to UGX 400 million, dfcu Mobi-Loans of up to UGX 5 million, and school owners’ financing of up to UGX 500 million, alongside vehicle and asset financing options. Qualifying loans can be processed within 24 hours.
To enhance protection for institutions, the bank is also promoting Schools Comprehensive Insurance Cover and School Motor Comprehensive Insurance, safeguarding school property, vehicles, staff, students and third-party liabilities.
The “School Fiiz! Weight Off!” campaign runs nationwide for three months. Parents and guardians can pay school fees through the dfcu QuickApp, USSD *240#, dfcu agents and branches, as well as partner platforms including SchoolPay, SurePay and PegPay.
