Africa-Press – Liberia. The National Teachers Association of Liberia Credit Union Cooperative Society (NATLCUCS) has concluded its 6th Annual General Assembly in Buchanan, Grand Bassa County, with the announcement of a net surplus of L$16,139,734.68, marking a significant increase from the L$14 million generated in 2023. Delegates at the event lauded the financial progress, describing it as a major step toward improving the welfare of struggling teachers.
The income generated, according to members of the Assembly, demonstrates the Union’s growing capacity to uplift public school teachers and education workers from poverty through increased access to loans and financial services.
The Annual General Assembly, held every three years, is the Union’s flagship gathering, bringing together members, regional heads, shareholders, and financial partners to assess progress, elect new board members, and adopt resolutions aimed at enhancing the socio-economic status of educators nationwide.
Established during the 64th National Convention of the National Teachers Association of Liberia in August 2013, NATLCUCS was created to help government-employed teachers and education workers access loans for productive use, thereby improving their standard of living.
Serving as keynote speaker at the Assembly, Deputy Minister for Instruction at the Ministry of Education, Hon. Amos Armah-Fully, emphasized the critical importance of financial empowerment for teachers. He praised NATLCUCS for fostering financial inclusion and enhancing the financial literacy of educators.
“Teachers are the backbone of our nation’s development,” Minister Armah-Fully stated. “They must be equipped with knowledge and tools for sound personal financial management.”
He also reaffirmed the Ministry of Education’s commitment to collaborating with NATLCUCS and other partners to expand credit access and financial literacy across Liberia’s education sector.
Minister Armah-Fully used the platform to discourage the perception of teaching as a mere “stepping stone” to other professions. Instead, he called for professionalism, passion, and character within the teaching workforce, saying, “The classroom should be led by prepared, professional, passion-driven individuals of good character.”
In his final address, outgoing Board Chairman Mr. Joeson B. Whisnant Sr. presented the Union’s 2024 Annual Report, highlighting key achievements including successful board elections in 10 counties, participation in international trainings in The Gambia and Kenya, disbursement of L$215 million in loans, generation of L$44 million in interest and nationwide awareness campaigns.
He reported that as of December 3, 2024, the Union had an active membership of 3,377 and ended the fiscal year with a net surplus of L$16.1 million. However, he raised concerns over a troubling trend of some teachers taking multiple loans from different institutions without proper deductions, calling for urgent reforms.
Mr. Whisnant also stressed the need for expansion of the Union’s office space, staff salary adjustments, and an interim facility while plans for a permanent headquarters are underway. He applauded members for their resilience and urged continued support for national poverty reduction efforts through economic self-reliance.
The newly elected Board Chairman, Mr. Freeman K. Duo, announced ambitious plans to grow membership to 10,000 in the coming years. He also revealed the establishment of an education and recruitment committee and plans to implement a software system to manage the Union’s expanding data needs.
“Manual data processing is becoming unsustainable due to rising membership,” he said. “We’re exploring the adoption of a software system to enhance efficiency.”
Despite being only 13 years old, NATLCUCS has emerged as one of the largest and fastest-growing financial institutions serving teachers, playing a transformative role in lifting educators from poverty.
Meanwhile, Madam Mary Nyumah, President of the National Teachers Association of Liberia, praised the Union’s management for the significant progress achieved. She called on the Ministry of Education to make membership in the Credit Union mandatory for all government school teachers.
Several members shared heartfelt testimonies about the Union’s impact on their lives. One stated, “I own a house today because of this association.”
The Assembly concluded with the election of new board officers to steer the affairs of NATLCUCS for the next three years. The elected officers are Mr. Freeman K. Duo – Chairman, Mr. J. McCarthy Yarkpawolo – Vice Chairman, Madam Sarah K. Kopeh – Treasurer, Mr. Jacob Karney – Chaplain and Mr. Anderson N. Tamba Sr. – Secretary General & Manager.
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