GTUCCU commemorates its 25th anniversary –

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By: Mariama Njie

The Gambia Teachers Union Cooperative Credit Union (GTUCCU) created in 1996 commemorated its 25th anniversary on Tuesday.

The Gambia Teachers Union Cooperative Credit Union is a financial cooperative based on the operating principles of a cooperative and cooperative philosophy. The main focus of the credit union is savings and credit and it operates out of eight different offices across the country.

Speaking at the Silver Jubilee event held at its head office in Kanifing, Managing Director Baboucarr Ousmaila Joof said that “twenty-five years ago some enthusiastic and curious patriotic members of the Gambia Teachers Union (GTU) gathered in a classroom in the oldest block of Sainte-Thérèse Upper Elementary School precisely, 31st August 1996 at the invitation of the GTU secretariat to consider setting up a credit union.

He went on to remind members of the training saying, “As the members arrived on that rainy August day, the few who gathered elected a steering committee headed by Amadou L. Kambi who finally came together. transformed into the first GTUCCU board of directors. “

Shortly afterwards, he added, the team of school leaders and qualified teachers from the Cadre primary school at the time drafted and obtained the approval of the statutes, service rules, loan policy, application forms and open accounts of the credit union.

He therefore said that “this was the most difficult part of the previous engagements as it followed the ban on the Gambia teachers’ union by the government, resulting in trustworthy damages”.

Mr Joof went further, saying that the board quickly gained the support of the accountant general and the Ministry of Education to set up a system of direct debits to collect both savings and repayments. of payroll loans.

“We are an offshoot of the union, the idea of ​​the credit union was conceived at the Gambia Credit Union within the management, we want to make sure that one day the teachers in this country will not have to do the queue in the banks to ask for the basics of life. , that we should be able to come up with our own ideas so that we can one day work in our own premises, ”said Joof.

He pointed out that teachers in The Gambia have a place to lean on, they do not claim that the credit union has reached a level where they can solve all problems, but it is an institution that can be relied on. support and solve their problems. .

According to him, over a quarter of a century, GTUCCU has served thousands of families every year by providing them with a wide range of services and products, and GTUCCU has positively touched the lives of many people through medical loans, loans education, home improvement loans and mobility enhancement. ready.

Today, Gambia Teachers Unions and Cooperative Credit Union is a global brand, not because it is the richest or most organized credit union, but because of its determination and resilience to have an impact on the lives of its members.

The total number of GTUCCU members is 37,164, men 23,055, women 11,994 and institutional member accounts are 2,165.

Mr Joof further revealed that the union’s total retained savings stood at GMD 66, 502,928.10 at the end of June 2021, with billions withdrawn during the time of the year.

“Outstanding loans stood at 503 GMD 828,821.06 at the end of June 2021 and assets represent 628 GMD 306,982,” he said.

Going forward, he said the world is moving digitally and their transactions need to be digitized, which will make it easier for members.

However, the occasion attended by GTUCCU founders, teachers and staff was marked by the cutting of a cake in celebrating the achievements of the cooperative from 1996 to date.


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