By Maimuna Sey-Jawo
The credit union of the Medical Research Council The Gambia recently held its 22 Annual General Meeting.
It was organised under the theme ‘Credit Union Promoting a Financially Inclusive Society in The Gambia’, held at the MRCG headquarters in Fajara.
The Chairperson of MRCG credit Union, Isatou Foon, said the theme was timely and that credit unions in The Gambia have cooperated and worked together over the years to enhance financial inclusion.
“Members of participating credit unions like ours are working with sister credit unions in the country by sharing ideas, experience and technical knowledge in building up our resource base to better serve our members,” she said.
The treasurer of the Union, Ousman Bah, said the organisation has a total asset of D82.8 million compared to D65.8 million in 2017, representing an increase of D17 million in the union’s net worth.
“In the financial year ended 31 December 2018, we have generated a total income of D6.5 million, an increase of 1.4% from 2017. Out of the D6.5 Million total income generated, a 4 percent interest on each member’s saving balance totaling D3 million has been paid back to members as interest on their savings, which is an increase of D500k from the amount paid to members in 2017,” he stated.
Unit director, Professor Umbe to D’Alessandro, lauded the union for “transparency and honesty”.