The General Manager of the National Cooperative Credit Union Association-Sierra Leone (NaCCUA-SL), Mr. Peter Alexandra Banting on Monday 14th August 2023 informed this medium in an exclusive interview at his Pultney Street headquarters in Freetown that in 2013, a visionary initiative emerged in Sierra Leone to tackle the pressing challenges of financial exclusion that had long plagued the nation’s populace in particular those in hard to reach areas.
He added that this resulted to the birth of the National Credit Union Association of Sierra Leone (NaCCUA), an apex body uniting credit unions across the country under a common goal – to empower and uplift the financial well-being of Sierra Leoneans stressing that what started with a modest affiliation of six credit unions has now blossomed into a formidable force with 27 affiliated Credit Unions and a total membership exceeding 15,000, sparking a transformative journey towards a more inclusive financial landscape.
He disclosed that the genesis of NaCCUA was a response to the glaring financial disparities faced by the citizens of Sierra Leone, that recognizing the urgent need to bridge these gaps, the founding members of NaCCUA embarked on a mission to cultivate a Credit Union movement that would truly serve as a beacon of hope and that their resolute determination led to the formal establishment of NaCCUA, paving the way for a profound shift in how financial services are perceived and accessed by Sierra Leoneans.
According to Mr. Peter Alexandra Banting, at the heart of NaCCUA’s evolution is a strategic approach that encompasses both breadth and depth, that the alliance boasts a diverse array of affiliated Credit Unions, ranging from community-based institutions open to all within a specific common bond to employee-centric teacher credit unions catering to educators within distinct geographical zones and revealed that this diversity not only amplifies the reach of NaCCUA but also reflects its commitment to tailoring financial solutions to the unique needs of different segments of society.
The General Manager continued that in recent months, NaCCUA has undergone a monumental transformation, injecting new vigor into its operations and expanding its capacity to provide need based services to credit unions across the country, that a pivotal aspect of this transformation has been the strategic recruitment of key personnel, bringing onboard skilled individuals who share a steadfast dedication to NaCCUA’s mission and that notable among these additions is the appointment of a General Manager, who, along with a Finance Officer and Compliance Officer, forms the nucleus of NaCCUA’s management team and underscored that this infusion of expertise has invigorated NaCCUA’s ability to amplify its visibility and enhance service delivery to its network of Credit Unions.
He furthered that the emergence of this dynamic management team marks a turning point for NaCCUA, unshackling it from the limitations that had constrained its potential pointing out that for years, NaCCUA operated with a solitary Administrative Secretary, striving to drive the credit union movement forwardbut that now armed with a team of dedicated professionals, NaCCUA stands poised to propel itself into a new era of impact and influence and informed that among the team’s foremost priorities is the strategic dissemination of the Credit Union ethos throughout Sierra Leone.
Mr. Peter Alexandra Banting went on to state that a multi-faceted approach employing print, electronic and social media channels is set to infuse the public consciousness with a heightened awareness of Credit Unions highlighting that by fostering a deeper understanding of the benefits of credit union membership, NaCCUA aims to swell its ranks and empower countless Sierra Leoneans with the tools to shape their financial destinies reiterating that the vision extends beyond public awareness, assured that NaCCUA is committed to fostering the growth of credit unions within work-based institutions, championing the establishment of Credit Unions tailored to the specific needs of various professional sectors and that this endeavor seeks to create financial solidarity within workplaces, allowing employees to access essential financial services through a platform rooted in trust and cooperation.
He also articulated that NaCCUA’s dedication to fostering collaborative partnerships remains unwavering, observed that a robust network of allies, including governmental institutions like the Bank of Sierra Leone and the Department of Cooperatives within the Ministry of Trade and Industry, serves as a testament to NaCCUA’s commitment to effecting lasting change asserting that these collaborations have not only propelled the credit union movement forward but have also set the stage for the expansion of financial inclusion on a national scale reiterating that NaCCUA would like to commend its partners, the ILCUF and German Sparkassenstiftung for International Cooperation for their continued support to build a vibrant and sustainable Apex organization for Credit Unions in Sierra Leone
The General Manager concluded that as the newly forged management team at NaCCUA steers the organization towardsan exciting future, the overarching mission remains clear: to ignite a financial revolution that transcends boundaries, empowers communities and paves the way for a more prosperous Sierra Leone underscoring that with innovation, determination and an unshakeable resolve, NaCCUA is poised to script a success story that echoes through the annals of Sierra Leone’s financial evolution.
