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City of Banjul
Saturday, October 16, 2021

CESCCU Holds 12th AGM

The AGM was held under the theme: ‘Building a Bright Future Through Credit Union.’ The forum availed members of the union an opportunity to discuss and adopt reports and financial statements for the year ended, as presented by the board of directors.

“It is a statuary requirement that all credit unions hold a gathering of this nature annually,” said Mrs Zono Jammeh, chairperson, board of directors, CESCCU.

“This will enable the board to account to the members on the prudent management and efficient utilisation of the credit union resources at the end of each financial year.” 

Highlighting the relevance of the theme of the AGM, she said: ‘This theme should serve as a driving force that steers and propels our activities for the future. By reflecting in our minds, we should ask ourselves whether we are prepared for the future or not; and if we are let us keep up the momentum but if we are not let us fasten our seat belts and strive towards the future.

“There has been significant increase in withdrawals from member’s saving during the past 12 months which is not a sign of preparedness for the future but a deprivation of one’s self from economic development. The current trend of withdrawals will not help us going as a vibrant credit Union but would keep us stagnant and draw us back to poverty, which is against the philosophy of what we stand for.”

On the brighter side, Mrs Jammeh announced that since the credit union’s inception in 1997, they had registered phenomenal growth in membership and savings mobilisation. 

Mr Emil Kujabi, education secretary of Roman Catholic Mission in The Gambia urged members to go in for loans rather than withdrawals. “We must jealously guide our credit union and increase our savings as it the only place to wipe out our tears,” he added. 

Essa Sowe, deputy secretary general, Gambia Teachers Union, assured the GTU’s commitment to further partnering with the CESSCU.

The registrar of co-operatives and general manager of National Association Co-operative Credit Unions of The Gambia both advised CESSCU members to increase savings and desist from unnecessary withdrawals.

The guest speaker of the Occasion, Mr Bakary Sanyang, a chartered certified and management accountant spoke at length on the theme of the AGM.

He said: “We must be able to achieve our goals through credit unions and to be a viable credit union. We should study the environment and change with its conditions as well as improving services to members.” 

 

By Sainey Marenah

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