Ding Ding Bantaba Credit Union holds annual meeting

The Ding Ding Bantaba Credit Union last Saturday held its annual general meeting at the Sibanor Early Childhood Development Center in the Foni Bintang District.

The meeting was organised by the board to sensitise their members on the programmes and activities of the union.

In delivering her speech, Sainabou Drammeh, chairperson of the union,  thanked all those who came to attend the first-ever annual general meeting of the union. She said Ding Ding Bantaba Credit Union as one of the largest financial institutions in the Fonis, and one of the largest micro finance institutions in the Western Region.

Apart from the requirement for credit unions in The Gambia to hold annual general meetings, she said they are also delighted for the additional opportunities that the gathering offers to review, reflect and share information on the activities of the credit union, and its achievements over the past three years, as well as its plans for meeting the constraints and future directions and challenges.

Mrs Drammeh further explained that the primary objective of creating and running a credit union in the Sibanor federation is to fight poverty.

Also to foster mutual understanding among people of the region, and to improve livelihoods through a civil society organisation that will provide the best and most cost effective and efficient financial services to low income earners in the region.

For the year under review, Mrs Drammeh revealed that it was a successful year for the credit union membership, adding that Ding Ding Credit Union increased its membership from 472 to 537 as at end of 31 December 2009. These comprised males and women community groups, like women kafos and youth groups in the region.

She added that the union is open to all those who are residing in the three districts of Foni Kansala, Bintang and Bondali. She further noted that the union "will increase the membership, bring about one pot and pool of resources, give us more strength, more choices, more opportunities and a status that will be commensurate with powerful financial institutions that can compete effectively in the competitive financial world of today."

We had conducted numerous sensitisation meetings in the three districts on the importance of amalgamating all the credit unions in the area, and the response is definitely positive.

Yankuba Sanyang, the treasurer of the union, said credit union philosophy is people helping people. This, he added, shows the credit union is important for long-term stability and security of their members, since it maintains adequate reserves. The board informed members that the credit union’s reserves increased from D17, 273.00 to D36,763.00 at 31 December 2009.

He called on other people within the three districts in the area to also join the Ding Ding Bantaba Credit Union for their own benefit.