The Gambia Teachers’ Union Cooperative Credit Union-GTUCCU, Tuesday August 31, 2021, marked Twenty-Five years in existence in the cooperative ecosystem. Established on 31st August 1996 through a 1992 congress resolution of the National Executive Committee of the Gambia Teachers Union, the GTUCCU is one of the fastest-growing cooperatives in the country.
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 took to start and maintain the CCU. 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 D1000 to One Thousand members for six months. 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”, Mr. Joof recounted.
Twenty-five years down the journey, Joof said the institution has served thousands of families annually through the products and services the institution offers.
“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 of teachers through our partnership with Government, MoBSE in particular and our partnership with the school.”
He hailed the expansion and decentralization of the services of the CCU as significant to the institution’s advancement. He also outlined the products and services the institution provides for members while adding that efforts are being intensified to digitalized the operations and services of the institution.
GM-Joof also reported that after a quarter of a century, the membership and accounts hosted by the union have grown exponentially while the total savings stood at GMD644,502,928.10 by end of 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 commitment to duty and resilience. While extending gratitude to the partners.
“Let me pay tribute to the thousands of members from inception that embraced the philosophy of cooperatives and trusted to young, inexperienced but dedicated leaders that pioneered this great success.”
Delivering a solidarity statement at the event, Essa Sowe-Deputy General Secretary of GTU said the occasion shows precedence of commitment, hard work, good governance, and leadership of the institution, 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.”
Mr. Sowe equally paid glowing tribute to the proponents of the idea and resolution that created the GTUCCU, calling them “gallant and visionary leaders.” He encouraged the membership to take ownership of the institution, persevere and save more.
