Credit Unions Must Be Free from Politics

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The Country Director of ACDI/VOCA Farmer to Farmer program, Mr. Patrick Yattoh, is calling on credit unions in Liberia to leave politics and work toward building post war Liberia.

Speaking at the 5th annual assembly of the Liberia Credit Union National Association (LCUNA) in Ganta on May 24, Yattoh told the assembly that they should consider themselves as eagles and get ready to fly as donor partners continue the draw down.

“Let credit unions be politics-free; they are business institutions and should conduct themselves as it is done in other countries,” he explained. “They should try to link up with donor institutions so as to build up their economic base that will make them strong.”

Yattoh expressed satisfaction of the level of progress LCUNA has made since the establishment of the World Council to of Credit Unions, which began the process of building the capacity of credit unions in Liberia and also the speedy renovation of the LCUNA office, which was dilapidated for years.

He added that as a not-for-profit organization involved in the capacity building of farmers, they observed that farmers do not have access to financial services and banking institutions are reluctant to give farmers loans.

He explained that with presence of LCUNA in the country, he has the strong belief that farmers will have access to financial services and if any donor comes in and trains farmers, they will have access to financial services to empower themselves.

He urged the credit union authority to take charge as a potential organization to carry on their task, like what is done in other countries to improve the country’s economy.

The convention was held under the theme, “Credit Union the best vehicle for economic growth” and brought together over 100 participants, representing Liberia’s 15 counties.

According to the CBL, there are about 300 credit unions in Liberia, with about 127 dues-paid credit unions with membership of over 14,000.

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