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City of Banjul
Monday, September 28, 2020

GAFCCU organises AGM, reports significant growth

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By Aisha Tamba

Gambia Armed Forces Cooperative Credit Union (GAFCCU) recently held its fourth Annual General Meeting and reported that savings increased from 71 to 75 million dalasis.

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Colonel Alagie Sanneh, the Union’s out-going chairman, reported that the Union’s assets has also significantly increased.

“The assets have increased from D78, 426, 439 as at 31 December 2017 to D84, 676, 989 as at 31 December 2018,” he disclosed.

The Union was established in 2008 to work to improve the socio-economic well-being of its members, the outgoing chairman said.

“[It was also established] to develop a culture of [cash] saving [among members], create and maintain a viable loan scheme to meet members’ financial requirements,” added.

GAFCCU treasurer, lieutenant colonel Musa M Jammeh, told the meeting that the financial report of 2018 will be compared to that of the preceding year (2017) in order to better enable the Union assess gains made to forge its future.

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