By: Lamin B. Darboe
Gambia Civil Service Cooperative Credit Union (GCSCCU) like any other credit union in the country or internationally facilitates legitimate financial services such as deposits and provides an array of other financial schemes such as loan facilities.
Thus, GCSCCU creates socio-economic and financial security for its members where it provides them with every avenue to save money, as well as acquired credits with reasonable interest rates.
In this exclusive interview with the Gambia Daily, the Manager of Gambia Civil Service Cooperative Credit Union, Mrs. Awa Darboe delved into the Union’s roles and responsibilities in civil service reform and development.
Q: Kindly explain the main functions of your Unit
MANAGER: The Gambia Civil Service Cooperative Credit Union (GCSCCU) is a member-oriented microfinance institution that unites civil servants through the pooling of resources together. These resources (funds) are managed by the union and then made available to the members at very reasonable and affordable rates without delays or strict measures.
Our functions include and are not limited to savings mobilization through direct deductions and deposits, disbursement of loans at reasonable interest rates, offering financial advice, etc. Our main business function is to provide finances to our esteemed members.
Q: How many civil servants are members of the Civil Service Credit Union?
MANAGER: Our esteemed members are from the various Ministries, Departments and Agencies and asof now, we have a total of 1850 Members.
Q: What is the current physical saving at the Bank?
MANAGER: Our portfolio at the bank is as follows:Savings Account: GMD14, 636,008
Current Account: GMD 232,144 andour asset value stands at:Over 35 million
Q: Can you give an account of percentage withdrawals made annually, by your members?
MANAGER: The withdrawal percentage differs from month to month likewise each year. During the year, we experience high and low withdrawal rates, and the peak is usually during festive periods such as Ramadan, Koriteh, Tobaski, Christmas, etc., and during school opening periods too. In the advent of Covid-19, we also witnessed high withdrawals due to the unforeseen circumstances that led to members withdrawing their savings.
Q: What can you assume of the purposes of most of these withdrawals, especially with personal loans?
MANAGER: Our members withdraw for various reasons, and these include withdrawing for medical bills, religious events as mentioned, ceremonials(naming, wedding, cultural), educational expenses, family matters, building purposes, businesses, etc.
Q: Are members’ savings encouraging?
MANAGER: Yes, we can say the savings is encouraging from the backdrop of our poor savings culture. Members are trying to regularly save from theirmeager salaries,especially during the financial difficulties we are faced with. So, this is encouraging, and we thank them for that.
Q: What can you describe Civil Service Credit Union as regards its impact on the members?
MANAGER: I believe this would have been better answered by the members as we usually say “who feels it, knows it” but I will try to answer. With the credit union, members save for a rainy day. On several occasions, members have come to the credit union to sort out their financial issues. These interventions can be grouped into personal problems, religious, family issues, educational, building/construction, health, businesses, etc… In general, we can say the GCSCCU puts broad smiles on the faces of their members in trying to help them settle their personal and family problems, pay their educational and medical bills, build houses, engage in businesses, to mention a few.
Q: Do you have any advice for your members and those civil servants who are yet to join the Credit Union?
MANAGER: Generally, savings are there to salvage individuals when the need arises as we know it is sometimes difficult to approach other individuals for financial aid be it your family members, bosses, or even friends/colleagues. So, the best place to be in such situations is a financial institution, and the best of all financial institutions are credit unions. With credit unions, you have privacy, and your issue will be solved within a very short time without any hustle. I am therefore recommending for everyone to join the credit union family with the philosophy of members helping members.
