National Teachers Association of Liberia Credit Union Cooperative Society (NTALCUCS) has vowed to lift thousands of teachers out of poverty after securing over L$14 million in surplus for the year 2023.
The group has concluded its 5th Annual General Assembly in Ganta, Nimba County and brought together several members from the organization including regional presidents, county presidents and officials of Cooperative Development Agency and Liberia National Credit Union.
The body has reported that over L$7 million has been allotted for members of the Credit Union who are also shareholders as dividends for the year 2023 out of L$14million.
Speaking at the closing of the Assembly, Cooperative Developments Agency (CDS) Registrar General Madam Lworpu G. Kandaka said the Credit Union plays a crucial role in the economy of any environment because it creates jobs and increases investment for business people.
“My people, let me tell you that some of the many successful business people today began from the level of the credit union as you are doing gradually, before their elevation to banking institutions which have made them wealthiest and lifted many out of poverty. Madam Kandaka said Credit Union provides reachable low-cost financial services and offers loans with low cost or interest rate, highlighting community reinvestment.
CDS Boss said credit unions promote savings and encourage members to save with less stress because members of the financial institution easily get money from the union at any given time when the need arises.
She told members of the association that they are role models in their respective communities and various counties, considering their profession as educators, while urging them to listen to the contribution of each member by giving mutual respect.
For her part, NTALCUCS President Mary Nyumah called on members of the Union to be the ones to inspire their colleagues as that their collective success is built on the foundation of individual success. She said after 2025, the Credit Union will provide over ten thousand members with assistance, and expressed excitement over the progressive dimension the financial institution has taken.
