Mar 20, 2017, 10:55 AM
National Association of Co-operative Credit Unions of The Gambia (NACCUG) with
funds from the Irish Government yesterday commenced a two-day training for its
board members on credit union matters.
The training, which brought together 17 board members from different sister credit unions in The Gambia, was geared towards enlightening members about the financial issues of credit unions.
Speaking at the opening ceremony held at the NACCUG conference hall in Kanifing South, Mr Patrick Mendy, head of Finance and Admin at NACCUG, said the training would strongly capacitise board members as well as senior members on running credit union affairs.
He said credit unions have financial problems, as functionaries do not also understand the financial statement. They thought it fitting, he explained, to edify such key executives to be able to analyse financial statements and guide their institutions.
“We believe that if the institution is not guided properly it will have problems in the near future,” he stressed.
Mr Mendy pointed out that at the end of the training participants would be “well equipped with equitable skills” to analyse the financial statement.
He added that trainee beneficiaries are expected to transfer skills learned to their various credit union board members to ensure their credit unions are effectively and efficiently run.
Edrisa Bojang, Chairman of the Board of Directors of NACCUG, said the training was also held to induct the board members and to ensure all of them are financially inclined.
Mr Bojang advised the participants to make best use of the training as well as to disseminate the knowledge gained from it.