Buchanan, Grand Bassa County- In a major financial breakthrough for public school educators, the National Teachers Association of Liberia Credit Union Cooperative Society (NATLCUCS) has announced a surplus of L$16,139,734.68 during its 6th Annual General Assembly held in Buchanan, Grand Bassa County.
The surplus marks a substantial increase from the L$14 million recorded in 2023, a milestone celebrated by delegates as a significant stride toward improving the financial well-being of government teachers and education workers.
The Credit Union’s efforts aim to lift educators out of poverty by providing access to affordable credit and a strong culture of savings.
Advancing Financial Empowerment for Educators
The triennial General Assembly brought together stakeholders from the education and financial sectors, including regional coordinators, shareholders, and government representatives.
The event served as a platform to assess the Union’s performance, elect new leadership, and outline future priorities.
Delivering the keynote address, Deputy Minister for Instruction at the Ministry of Education, Hon. Amos Armah-Fully, emphasized the importance of financial literacy as a cornerstone for teacher empowerment.
“Teachers are the backbone of national development,” said Minister Armah-Fully. “Giving them access to financial tools enhances not only their personal lives but also their ability to remain committed to the classroom.”
He praised NATLCUCS for promoting a savings culture and providing essential credit services to its members. The Ministry, he pledged, will continue to support efforts that expand financial inclusion in the education sector. The Deputy Minister also urged educators to uphold professionalism and dedication, cautioning against using teaching merely as a stepping stone to other careers.
Union Milestones and Ongoing Challenges
In his final report, outgoing Board Chairman Mr. Joeson B. Whisnant Sr. outlined several accomplishments:
Successful board elections in 10 counties
Participation in international trainings in The Gambia and Kenya
Disbursement of L$215 million in loans with L$44 million in interest returns
A vigorous awareness campaign that contributed to significant membership growth
As of December 3, 2024, the Union had an active membership of 3,377.
However, Mr. Whisnant highlighted several pressing challenges, including teachers taking multiple loans without appropriate salary deductions, which complicates repayment processes.
He also stressed the urgent need for:
Expanded office space
Adjustments to staff salaries
Temporary working facilities while awaiting the construction of a new headquarters
New Leadership Charts Ambitious Course Newly Elected Board Chairman Mr. Freeman K. Duo unveiled an ambitious plan to grow the Union’s membership to 10,000 teachers nationwide.
“We want to reach more educators and give them access to financial services that can change their lives,” Mr. Duo said.
To support this expansion, a dedicated Education and Recruitment Committee has been established. Mr. Duo also announced plans to adopt a data management software system to modernize operations, noting that manual data processing is no longer feasible with the growing membership base.
A Model for Teacher-Led Financial Transformation
Now in its 13th year, NATLCUCS has become one of Liberia’s fastest-growing financial cooperatives. Its services have empowered teachers to build homes, pay school fees, and start small businesses—transforming lives across the country.
Madam Mary Nyumah, President of the National Teachers Association of Liberia, applauded the Union’s progress and called on the Ministry of Education to make NATLCUCS membership mandatory for all government school teachers.
A new slate of officers was elected to serve for the next three years:
Mr. Freeman K. Duo – Chairman
Mr. J. McCarthy Yarkpawolo – Vice Chairman
Madam Sarah K. Kopeh – Treasurer
Mr. Jacob Karney – Chaplain
Mr. Anderson N. Tamba Sr. – Secretary General & Manager
As Liberia grapples with ongoing economic and educational challenges, NATLCUCS stands as a beacon of what teacher-led financial initiatives can achieve, empowering educators and promoting grassroots transformation across the country.
