The National Teachers Association Credit Union is Committed to Helping More Teachers Escape Poverty

MONROVIA, LIBERIA: The National Teachers Association of Liberia Credit Union Cooperative Society has announced a surplus of 16 million Liberian dollars for the 2024 fiscal year.

The Union’s 2024 fiscal saw an increment of two million Liberian dollars to fourteen million Liberian dollars in fiscal year 2023 —an achievement delegates say will empower more teachers through access to affordable credit and poverty alleviation.

The announcement was made during the Union’s 6th Annual General Assembly held in Buchanan, Grand Bassa County. The Annual General brought together teachers, regional leaders, shareholders, and financial stakeholders to review the union’s performance, elect new board officers, and chart a new course for the coming years.

Founded in 2013, NATLCUCS aims to provide productive loans to public school teachers and education workers, especially in rural areas, to help them improve their quality of life.

Serving as keynote speaker, Deputy Minister for Instruction at the Ministry of Education, Amos Armah-Fully, praised NATLCUCS for fostering financial inclusion among educators.

“Teachers are the backbone of our nation’s development,” he stated, while calling for financial empowerment and capacity-building for educators. He warned against treating teaching as a mere stepping stone, urging a commitment to professionalism and passion in classrooms.

The Deputy Minister reaffirmed the Ministry’s commitment to expanding financial literacy and increasing access to credit through collaboration with the credit union and other partners.

In his annual report, outgoing Board Chairman Mr. Joeson B. Whisnant Sr. revealed that the union disbursed over LRD 215 million in loans in 2024, with LRD 44 million collected in interest.

Other key achievements included board elections in 10 counties, international training in Gambia and Kenya, and an increase in public awareness campaigns as the Union climaxed the fiscal year with an active membership of 3,377 as of December 3, 2024.

However, Mr. Whisnant expressed concern over teachers acquiring multiple loans from various institutions without full salary deductions, calling it a “troubling trend.” He also called for office space expansion, salary adjustments, and an interim facility while awaiting a permanent headquarters.

For his part, the newly elected Board Chairman, Mr. Freeman K. Duo, said his main goal is to grow the Union’s membership base to 10,000, describing it as critical to lifting teachers from poverty. He disclosed that an Education and Recruitment Committee has been established to recruit government school teachers nationwide.

“To keep up with rising membership, we plan to implement a software system for data management,” he noted, citing the inefficiencies of manual processes.

The President of the National Teachers Association of Liberia, Madam Mary Nyumah, applauded the management team and called on the Ministry of Education to make union membership mandatory for all government school teachers.

Several members, in a jubilant mood, shared how NATLCUCS loans transformed their lives. “Me owning a house today is because of this association,” one member testified.

The General Assembly concluded with the election of new officers to lead the union 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.

With just 13 years in existence, NATLCUCS is now regarded as one of the fastest-growing credit institutions for educators in Liberia, committed to economic self-reliance and teacher empowerment.