UTCSCU was founded by a group of teachers affiliated with different Savings and Credit Societies (SACCOs) and was incorporated as a Co-operative in 2010 by the Registrar of Co-operatives of the Republic of Uganda. The Union was launched by His Excellence Yoweri K. Museveni, the President of Republic of Uganda on 23rd July 2011 at Jinja Main Street Primary School. It was at this occasion that UTCSCU requested for the financial support, which was granted.

The President promised to give to teachers through UTCSCU Sh. 25 billion in five phases over five years in the National Budget. The “Presidential Pledge” was actualized in the National Budget of 2013/2014.  UTCSCU has a total number of 30 voluntary registered SACCOs (national wide and List attached) with a total population of 2614 teachers and is still growing with the aim of bringing all Teacher SACCOs on board. The Union embraces a pro-active activity programme focused on Microfinance