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City of Banjul
Thursday, May 23, 2024

GPACCU holds 6th AGM

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By Oumie Mendy

The Gambia Ports Authority Cooperative Credit Union has held its 6th annual general meeting at the ports premises in Banjul last week with 4 new board members committee nominated to steer the affairs of the Union.

Themed ‘Building financial health for a brighter tomorrow’ the AGM saw outgoing board report on its activity report and financial statements for the year ended 2021.

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The outgoing Union chairman John F Mendy said the year under review has been of development and service delivery despite a few challenges.

He reported that membership of the union has grown from 1,671 in December 2020 to 1,741 as at the end of December 2021 which represents a growth of 4%. While  savings also increased from D48,377,713 in 2020 to D58,150,048 in 2021 representing an increase of 20% .

Chairman Mendy further reported that total loans disbursed to members during the year under review increased from D39,419,453 to D54,217,754 indicating a 37.5% increase.

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The Union also registered a total surplus of D2,229, 48.

“The significant increase in surplus is an indication of the hard work by the entire members, Board and Management for encouraging more staff to join the credit union. Be rest assured that the Board will continue to serve all members effectively in our quest to make the Union members continue to enjoy maximum returns on their savings and investments in the GPA Credit Union,“ the chairman stated.

According to him the Union over the past 20 years, offered meaningful support to its members in various aspects which ushered in a positive economic and social transformations in their lives and livelihoods.

“These remarkable achievements have contributed and paid dividends as most of our members now live in their own houses, some educated their children to university level, while others have established income generating initiatives for themselves and family members for their economic support and empowerment,” he recounted.

Meanwhile Fatoumatta K Jatta, Ouley Ndow, Bakary Janneh, and Muhammed Hafiz Jallow all staff of GPA were nominated as new board members. My

The Union also inaugurated the new office project to ease the burden of congestion during service delivery.

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