Oct 10, 2011, 1:53 PM
Speaking at the meeting held at the hall of the institute in Kanifing, Mrs Bertha J. Johnson, chairperson of the board of directors, said the AGM is held for the executive board to give an account of all related activities and financial status of the credit union.
According to her, the board members are just custodians of entrusted funds, to direct appropriate investments and see through the smooth running of the affairs of the Gambia Technical Training Institute Cooperative Credit Union (GTTICCU).
“It is for this reason that you are called upon to account for what was left in our care,” she said.
She pointed out that credit unions are meant to break the shackles of economic poverty leading to economic independence through the many services available to its members.
Looking at the achievements of the credit union, Mrs Johnson disclosed, for the first time provisions for Ramadan and Christmas were provided for members in 2015.“It is our wish to include other services in the near future but this can only be possible if member savings increase,” she said.
She thanked members of the cooperative credit union, especially GTTI leadership, for their support of the board of directors over the years, which enabled them to register success in their functions.
For his part, NACCUG Central Finance Facility manager Nuha Sanneh said the attendance percentage of the credit union “is very impressive”, adding: “This is a platform that accords members the opportunity to scrutinize the performance of their elected board of directors in the past 12 months.
“I therefore urge you to continue to nurture good governance and accountability that prevails in your credit union.”
NACCUG, he said, will continue to vigorously carry out the on-site and off-site monitoring of the activities of credit unions to ensure that credit unions operate in a safe and sound footing.
The balance sheet and income statement of the union, he explained, has unveiled “positive success variables by generating profit, more than the previous year”.
“The GTTI credit union liquidity position is sound,” he also said: “I therefore commend your board of directors for their stewardship.”
Mr Sanneh called on all to “invest in the CFF for better return as CFF offers a wide range of products and services for your credit union to make use of”.
He said that investing in the CFF “will help facilitate and create” the enabling environment for NACCUG to be able to effectively deliver quality services to credit unions.
He also profoundly commended the management of GTTI for their “unwavering support” accorded the GTTICCU, urging them to remain steadfast and always save more, to take loans and desist from frequent withdrawal.
The meeting was chaired by Mr Jacob Jatta, secretary of the credit Union, who was also applauded for his effort and commitment to the union.
He thanked the institution and promised to redouble his effort in his service to the union.