Credit Union Leaders Inducted The Credit Union of the Robert International Airport has got a new leadership which has been challenged to uphold the principles of accountability, transparency and fair play. Speaking at the induction ceremony at Union’s headquarters, (RIA) International over the weekend, the Deputy Registrar General for Administration at the Cooperative Development Agency who spoke for the Registrar General said upholding those principles could help the Union achieve its goal. Mr. Erik Vincent said credit unions account for 65% of wealth creation in any nation and now is the time for the leadership of the ACU to create the enabling environment to facilitate wealth creation for its membership. The induction ceremony coincided with the World Cooperative Day Celebration; something which he said was timely for the leadership and members of the Airport Credit Union to use as a means of strength. Mr. Vincent emphasized that the essence of a credit union is to embark on cooperative ventures for the wellbeing of its members. In his Inaugural Address, the Chairman of the Union, James Freeman who ran unopposed for another term, said the credit union was able to secure a $3.5 million loan from the Micro-Finance Department of the Central Bank of Liberia. This helped the leadership to enlarge the loan scheme and expand its facilities for customers particularly users of the Roberts International Airport. Mr. Freeman also said the Union disbursed dividends to its members and has a substantial reserve for future transactions. Currently, Mr. Freeman said, the Union has a strong membership of 430 persons comprising of employees and retirees of the RIA. He then praised the Central Bank of Liberia Executive Governor, J. Mills Jones for the stimulus package which has enabled several Liberian businesses to borrow money with affordable interest rates. Also speaking, a representative of the Central Bank said the loan was given to the ACU due to its outstanding performance over the years. He said the union has been in full compliance of various bench marks set by the CBL for creditors. He said the bank stands ready to lend the Union at any time. Meanwhile, those inducted at Saturday’s program were James M. Freeman, Chairman; Alexander S. Flomo, Chairman; Johnn W. Kollie, Secretary General and Joseph Daniels, Treasurer. Others were Regina Ajavon-Benson, Sangbeh Kollie, Cornelius Tue, Christopher Fomba and Austin G. Gbor as Board Members. Jaycee W. Garniah, Isaac Jakes and Adolphus Harmon were inducted as Supervisory Committee members. The Airport Credit Union induction was graced by scores of other credit unions in Liberia and the Central Bank of Liberia.
Posted on: Tue, 09 Jul 2013 14:31:36 +0000
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