International Credit Union Day commemorated

Wednesday, November 07, 2018

The Gambia on Saturday joined the rest of the world to observe the international credit union at a ceremony held at the NACCUG Office in Kanifing, Organized by the National Association of Cooperative Credit Unions of The Gambia (NACCUG) and its partners. The theme was “Credit unions, Members matter most”.

The day was meant to bring members together to recognize and reflect on the history of the credit union movement, promote its achievements, hard work and recognize its experience among members.

Addressing the gathering, Baboucarr Jeng, general manager of NACCUG, said the ultimate goal of the celebration is to raise awareness about the tremendous work that credit unions and other financial cooperatives are doing around the world. It also, accords members the opportunity to meet and interact.

“The Gambia Credit Union is among 56,000 credit union in the world. Today we join our fellow credit union members in 101 countries to celebrate. Whether our members are rich or poor, from village or cities, in communities at peace or in conflict, young or old, male or female, credit unions are helping them to create new opportunities every day,” he stated.

Jeng thus urged all credit unions to look beyond local communities and recognize credit unions for their important role they play in many distressed urban and rural areas worldwide.

He noted that many people would not have been able to afford their own homes, start a business or attend school without the help of their credit unions.

Also speaking, Bai Sanyang, the Director of Microfinance Department at the Central Bank of The Gambia, said the gathering provides a unique opportunity to bring people from all works of life under the cooperative credit unions umbrella for a common goal and to advance the welfare of its members.

Credit unions, he added, have grown considerably over the years, mobilizing deposits to the tune of over D1.06 billion and disbursed above D785.0M loans as at end of June 2018.

This figures, he went on, tells the unparalleled importance of Credit Unions in the non-bank financial institutions industry.

For his part, Aba Sankareh, register of Cooperative Unions underscored the importance of the day, saying the day is observed every 3rd of November 2018 to reflect on the achievements of credit unions.

Other speakers at the event include, Soffie Darboe and Abdoulie Cham both from MRCG, who spoke at length on the importance of the MRCG awards to the NACCUG and GTUCCU.

The celebration also witnessed the handing over of awards from the Medical Research Council (MRCG) to the CEO of NACCUG and The General Manager of The Gambia Teachers Union credit union, in recognition of their hard work and dedication towards the activities of the union.

Author: Fatou Bojang