Y-Save was started on 24th January 2000 initially as a saving & investment scheme by a group of Young Working people of the then Kampala Pentecostal Church (KPC) and now Watoto Church, called the Young Workers. At its inception Y-Save was called Y-Save Micro Finance Association.
Over time, the membership of the saving and investment scheme has grown to accommodate other church members who are actively involved in the activities and programmes of Watoto Church.
Y-Save got registered with the Registrar of Cooperatives in the Ministry of Tourism, Trade & Industry and it changed its name to become Y-Save Cooperative Savings & Credit Society Ltd on 26th November 2004. Due to the needs from the members of Y-Save to collectively get involved in other areas of business and investments, Y-Save changed its Legal status on 22nd May 2013 to become Y-Save Multi-Purpose Cooperative Society Ltd.