Delegates and invited guests at the 11th AGM

The National Cooperative Credit Union Association of Sierra Leone (NaCCUA-SL) held its 11th Annual General Meeting. The event theme: “Stronger Together: Advancing Credit Union Through Partnership and Cooperation,” emphasizes the power of collective effort and the benefits of combining resources, skills, and perspective to achieve a shared goal. The focus is on promoting sustainable financial inclusion through the CU model and strengthening the credit union movement across the country.

The meeting was attended by representative from the Embassy of Ireland in Sierra Leone, SEND Sierra, Leone, Department of Cooperatives, Bank of Sierra Leone, a representative from the Civil service, staff and board members of both ILCUF and NaCCUA including key stakeholders across the cooperative sector.

NaCCUA had the opportunity to review the previous year’s performance, discuss current operations and strategies for future growth and sustainability, and allow members to vote on key decisions.

Lamin Kamara, Chairperson, NaCCUA, in his welcome address, noted that the AGM is a testament to their collective resilience, unwavering dedication, and commitment to strengthening the Credit Union movement in Sierra Leone. “As we gather under this year’s theme, ‘Stronger Together: Advancing Credit Unions Through Partnership and Cooperation,’ we are reminded that our success is built on unity, collaboration, and shared purpose. Over the past year, the NaCCUA Board has worked tirelessly to ensure that our objective of sustainable growth is met and that NaCCUA continues to stand as a beacon of financial inclusion and cooperative successes.’’

Speaking at the meeting, Sulaiman Bangura, Representative, Department of Cooperatives (DoC), highlighted that last year, with support from NaCCUA and its partners DOC witnessed twenty-one AGMs across the country compared to 2023, with only fourteen AGM conducted. “This shows progress. All of these AGMs were very peaceful, which indicated that credit unions are institutions that can manage their affairs irrespective of sex, age, color, or tribe. He Further noted that they have engaged the ILO to see how best they can fund the review of the outdated Cooperative Societies Act 1977.

Sulaiman Bangura, Representative, Department of Cooperatives

Hilton Jarret, Representative, Bank of Sierra Leone, acknowledges the critical role NaCCUA plays in advancing financial inclusion and economic empowerment in Sierra Leone.

“We commend the leadership of NaCCUA for its unwavering commitment to advocacy, training, and capacity-building initiatives that empower credit union members and ensure financial stability within the sector. The Bank of Sierra Leone remains a steadfast partner in supporting the cooperative movement, and we reaffirm our commitment to working collaboratively to build a strong, inclusive, and sustainable credit union network in Sierra Leone. We also want to express our deepest thanks and appreciation to ILCUF and DSIK for their roles in this movement.”

Hilton Jarret, Representative, Bank of Sierra Leone

His Excellency, Aidan Fitzpatrick, Ambassador of Ireland to Sierra Leone noted that the key reason for being here is because he is a member of the CU in Ireland. He emphasized that the CU symbol with two hands means supporting family.

“We are trying to do something important here; we are trying to get the people of Sierra Leone access to finance and I want to explain why my government is giving substantial support to ILCU and NaCCUA.”

He explained that, In Ireland there are 5. 3 million population 3.6 million are CU members. Referencing that the CU is one of the most trusted institutions In Ireland, and that when people want  to purchase car, support education , health they go to their CU they don’t go to the banks because the CU cares for the little man. Adding that, “My government is passionate about CU, they are important and for that NaCCUA is important as well as the CU. For the period of   2024- 2028 the government has given   40 million new Leone. We are putting 27 million Leones every year and we committed to another five years but we need to see growth,” he noted.

Ambassador Aidan Fitzpatrick, Embassy of Ireland Sierra Leone

Joseph Ayamga, Country Director, SEND Sierra Leone, gave the keynote address at the meeting, noting that Sierra Leone has a lot of resources but the challenge is with a positive attitude. “Attitude is something you build over time and it has one of the greatest impacts in the way we manage resources, mobilize resources, in the way you treat others and, in the way, we take care of resources that belong to other people and we need to see that in our CU.”

He noted that Some CU are more than 10 years but the membership and resources are very low and this is because of poor management as most managers have no vision and direction towards transformation. Adding that how people understand leadership and service to humanity is the problem, as development is a public good; they are charged with the responsibility to provide service that other people can benefit from. He added that everybody has a role to play to grow the CU.

“The reason I believe in credit union is because I grew up with it. My mother was part of VSL, she use VSL and CU money to educate me till university, I sat and watch her every day trying to take loan to pay school fees, to make sure we have food every day, and she has been on it for the past 50 years and she is still a member. What we are lacking in Sierra Leone is mindful spending and saving and mindful investment,” Ayamga underscored.