The National Teacher Association of Liberia Credit Union Cooperative Society (NATLCUCS) has climaxed it 6th Annual General Assembly in Buchanan Grand Bassa County with a financial disclosure of the Net Surplus of LDR $16,139,734.68, as compare 14 million Liberian Dollars generated in 2023, something which delegates termed as laudable.
The income generated according to delegates at the Annual General Assembly, is laudable for the improvement of the operations and interest of struggling teachers to be lifted out of poverty by the means of increment in loans meant for Public School Teachers and Education Workers to improve their lives.
The Annual General Assembly is a routine year-end gathering that brings members, regional heads, shareholders and financial stakeholders of the institution to discuss the well-being of the Association and mechanisms that will promote the economic status of its members.
Established at the 64th Convention of the National Teachers Association of Liberia in August 2013, the NATLCUCS seeks to assist Government School Teachers and education workers to obtain loans for productive purposes as means of alleviating Teachers from poverty.
Held after every three years, the Annual General Assembly is the NATLCUCS signature event that gives updates on its standing, progress made, challenges, election of new Board Members and setting up new resolutions to be achieved in the ensuing years.
Serving as guest speaker at the General Assembly over the weekend in Grand Bassa County, Deputy Minister for Instruction at the Ministry of Education Hon. Amos Armah-Fully emphasized the critical role of Financial Empowerment as means of improving the lives of Teachers.
He lauded the NATLCUCS for its efforts in fostering financial literacy and inclusion for educators, stressing that “Teachers are the backbone for our nation’s development”, thus stressing the need for them to be equipped with knowledge and skills that will enable effective personal finances.
Minister Amarm-Fully further praised the NATLCUCS for providing accessible credit and promoting savings culture among its members, thus affirming the MOE’s commitment to collaborating with the Union and other partners to expand financial literacy and increase access to credit for government school teachers.
Highlighting the importance in the education sector, Deputy Minister Armah-Fully cautioned individuals against using teaching as a “stepping stone” to other careers, emphasizing the need for specialization and a passion for the profession.
“The classroom should be led by prepared, professional, passion-driven and people of good character,” he stressed, thus reaffirming the government’s support for teachers and their contributions to national development through empowerment.
For his part, the outgoing Chairman of the Board of Directors of the National Teachers Association of Liberia Cooperative Society, Mr. Joeson B. Whisnant Sr, presented an annual report, outlining both successes and challenges for the year in review 2024
He, among other things, outlined the successful conduct of board elections in 10 counties, participation in international trainings in Gambia and Kenya, disbursement of LRD $ 215 million in Loans, with LRD $44 million in interest, and increased awareness campaign nationwide, as some successes of the organization.
With an active membership of 3,377 as of December 3, 2024 Mr. Whisnant emphasized that the Union climaxed the fiscal year with LDR $ 16.1 million. Despite these achievements, the outgoing board chairman raised concerns over some teachers acquiring multiple loans from different institutions without full deductions, describing it as a “Troubling trend”.
He stressed the urgent need for expansion of office space and staff, salary adjustments and interim facility while awaiting the construction of its office.
Chairman Joeson B. Whisnant Sr, lauded members for their resilience and dedication to the Union’s mission amidst economic and logistical hurdles, further admonishing them to remain committed to supporting the government’s efforts in reducing poverty through economic self-reliance.
In remarks, the newly elected Chairman of the Board of Directors Mr. Freeman K. Duo stressed that his primary goal is to significantly increase membership to 10,000 something he said is aimed at alleviating teachers from poverty.
Freeman further underscored the positive impact the Credit Union has had on its members, disclosing that an education and recruitment committee has been set up to mobilize government school teachers from across. To ensure that this is achieved, he disclosed a plan to implement a software system for data management.
“We are thinking about bringing in software to take care of the data, because doing it manually is a serious problem, due to increase in membership,” he stressed.
With just 13-years of existence, National Teachers Association Credit Union Cooperative Society has stood out as the largest financial institution with a fast-growing membership, helping to lift Teachers from poverty.
For her part, Madam Mary Nyumah, president of the National Teachers Association lauded the Management of the NATLUS for progress made to see the Union this far, pleading with the Ministry of Education to make membership of the association mandatory for government School Teachers.
Members of the Union in a joyous mood testified of the tremendous impact the union has had on their lives, with some saying “me owning a house today is because of this association”.
Meanwhile, a new corps of officers were elected at the 6th Annual General Assembly to steer the affairs of the NATLCUCS Board for the next three years. Those elected include; Mr. Freeman K. Duo-Chairman, Mr. J. McCarthy Yarkpawolo-vice chair, Madam Sarah K. Kopeh- treasurer, Mr. Jacob karney –Chaplain and Mr. Anderson N. Tamba Sr.- Secretary General and Manager respectively.
