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World Council of Credit Union pledges support to Liberia

T. Mulbah Kessellie/Joseph T. Koon

MONROVIA, LIBERIA-The World Council of Credit Union (WOCCU) has pledged its support to empower Liberians through a classic credit union program in Liberia..

The Chief of Party of the World Council of Credit Union, Patrick Miriuki, said his organization and partners have agreed to work together to revitalize the Credit Union Movement in Liberia.

Mr. Miriuki who is also the Project Director of the MicroLead Revitalization of Credit Union Liberia Program, noted: “The fundamental purpose of the program is to increase rural and urban households' access to financial services."

“It is also intended to support the Central Bank of Liberia (CBL) objectives and goals for financial inclusion and revitalization of the National Credit Union Movement of Liberia, “he said.

He said the World Council of Credit Union and local and international partners are committed to supporting the Financial Inclusion Strategy of Liberia.

Mr. Miriuki made the assertions recently at the close of the Annual Assembly credit unions held under the auspices of the Liberia Credit Union National Association (LCUNA) in Ganta, Nimba County.

He emphasized: “The Model Credit Union Building (MCUB) methodology initiated by his organization through the MicroLead Revitalization of Credit Union in Liberia Program, is the best approach towards the revitalization of credit unions.”

Mr. Miriuki underscored the need for regional support for the sector if it must meet the desired aspirations of its members with emphasis on regionalizing the sector into four centers across the country.

The MicroLead Revitalization of Credit Union in Liberia Program, funded by the MasterCard Foundation through the United Nations Capital Development Fund (UNCDF) and implemented by the World Council of Credit Unions, began the implementation of the revitalization of the Credit Union Movement in Liberia in 2013.  

The establishment of the four Regional Credit Unions (RCUs) that provide financial services for rural and urban population since 2013, is useful to stakeholders of the microfinance sector by providing a credit union industry targeting low income groups in Liberia.

Microfinance services in Liberia are offered by a number of providers.  They include commercial banks, credit institutions, Non-Governmental Organizations, credit unions, rotating savings, among others.

 


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