The Central Bank of Liberia has warned individuals and institutions refusing to pay back money loaned to them through the 2012 Loan Extension Assistance Facility program that the bank would start pursuing them.
The Central Bank of Liberia, in collaboration with the Liberia Credit Union National Association, has concluded an exercise meant to familiarize credit union leaders with soon to be enforced regulations.
After several years working to bring Liberian credit unions up to international standards, the World Council of Credit Union’s Microlead initiative is coming to an end.
Tappita will on December 16 see the opening of a credit union, the first modern financial institution in the city.
Trust Savings Credit Union has completed the construction of the first branch facility in Tappita. The project is being funded by the MasterCard Foundation through the United Nations Capital Development Funds.
In the past few years, credit unions have been making a resurgence in Liberia, and there is a strong need for their services. The existence of credit unions as viable financial services providers was certainly not the case a few years ago.