The “In God We Trust” Multi-Purpose Credit Union (IGWMPCU), last Sunday introduced new products to its members. The products, according to the union, are expected to uplift its members and improve their livelihood.
The products, according to the president, Saye J. Biyie, will be subsequently introduced unto the market by early January, 2015.
Thereafter, Mr. Biyie said, the products will help to alleviate the already poverty-stricken parents, “because they will benefit from the services that will oversee the payment of the children school fees through the relevant kids-to-school saving account.”
Other services, according to IGWMPCU president, include holiday savings account; children education savings account; home ownership and development savings account.
The president of the Multi-Purpose credit union told members on Sunday that credit union business is not for profit making, but to ensure that every member is taken to another level.
Mr. Biyie made the assertions recently at the program making the official closing of 2014 operational year of the union.
According to him, “these products seek to educate children and parents on how to prepare for the successful life journey, adding that the independence of any one begins with the way he/she plans their lives.
This task, he said, will provide sound education which include, but not limited to formal education, financial management among others.
He noted that many people believes that savings are done with their surpluses, which is not true and as such, rational and successful people start saving from their little earning for some purposes, such as, saving for education, land, home, purchasing of vehicle and start off business as well as saving for holiday expenses.
“It is in this regard, that the “In God We Trust” Multi-Purpose Credit Union introduced the above listed products,” he said.
The Multi-Purpose Credit Union president thereby encourage members to take advantage of the products, by opening one of the following accounts for their children, which he said can be short and long term investment for that child until he or she reaches 18 years before he/she can take charge of that account.
Launching the products, Mr. John B. S. Davis, II, president and CEO of the Liberian Bank for Development and Investment (LBDI) used the occasion to pledge his bank’s commitment to Multi-Purpose Credit Union because they stand for integrity.
Mr. Davis also encouraged members of the club to be business minded.