By Momodou B. Dem
The Gambia Teachers’ Union Cooperative Credit Union [GTUCCU] marked Twenty-Five years in existence as a cooperative credit union [CCU].
At a Press Conference organized by the management of the institution to celebrate the day, the General Manager, Baboucarr Ousmaila Joof recounted the herculean task the founders undertook to establish and maintain the institution.
He paid homage to the founders and members of the first Board of Directors of the institution for their foresight and resilience.
“By 1997, the Board was faced with exponential growth in membership and savings accrued in millions compelling them to execute the first loan scheme of D1, 000 to One Thousand members for a six-month period. That was the beginning of a journey twenty-five years into the future which brought enormous impact on the lives and livelihood of our members and those of their families,” General Manager Joof recounted.
Twenty-five years down the journey, the institution has served thousands of families annually through the products and services the institution offers. He added
“We have positively touched the lives of many through medical loans, educational loans, house improvement loans, mobility enhancement loans like the famous motor legal support bikes through the Consumer Unit, or cars through the invoicing product under the Islamic Cooperative Credit Union or the Consumer Unit,” he furthered. “More importantly, we have and continue to provide the much needed support in the provision of conducive teaching and learning environment for teachers through our partnership with Government, MoBSE in particular and our partnership with school.”
Baboucarr hailed the expansion and decentralization of the services of the CCU as significant to the institution’s advancement.
He outlined the products and services the institution provides for its members; while adding that efforts are being intensified to digitalized the operations and services of the 25-year-old cooperative credit union.
GM-Joof also reported that after a quarter of a century, the membership and accounts hosted by the union has grown exponentially while the total savings stood at D 644, 502, 928.10 by end June 2021 and Assets accounts for GMD628,306,982.
“From zero Dalasi in our account in August 1996, one member of staff in March 1997, five hundred and forty-six members deducted D16, 138 in March 1997, twenty-five years down a rough, turbulent but exciting road, we are proud of our achievement,” Joof stated.
He thanked the staff for their resilience and commitment to duty; while extending gratitude to the partners.
Delivering a solidarity statement at the event, Essa Sowe-Deputy General Secretary of the Gambia Teachers’ Union [GTU], the parent body of GTUCCU, said the occasion shows precedence of commitment, hard work, good governance and leadership of the GTUCCU.
“Our resilience in upholding the Credit Union philosophy of people helping people is fundamental in ensuring that the general welfare of teachers and education sector personnel and staff are sustained, which we all strive for,” he said.
Sowe equally paid glowing tribute to the proponents of the idea and resolution that created the GTUCCU, calling them “gallant and visionary leaders.”
The Gambia Teachers’ Union Cooperative Credit Union [GTUCCU] was established on 31 August 1996 by a congress resolution of the National Executive Committee of the Gambia Teachers’ Union in 1992.
The GTUCCU is a registered credit union, also an affiliate to the National Association of Cooperative Credit Unions in The Gambia [NACCUG] with a membership of mainly members of The Gambia Teachers’ Union, officers of The Ministry of Basic Education [MoBSE], among others.