Monday, June 17, 2024

Credit Union Ukhrul Celebrates its Silver Jubilee


EKHON | UKHRUL: Credit Union Ukhrul, a micro financial institution, celebrated its Silver Jubilee’ a glorious 25 years- from 1998 to 2024, on 1st May at their CU Complex Conference hall, located in Phungreitang West, Ukhrul. Credit Union (CU) believes in building a lasting financial relationship tailored according to individual social needs.

As the only financial institution in Tangkhul, CU endured and went through the test of time from inception till date. However, as they look back, CU is filled with gratitude and chooses the biblical verse “Be Filled with Thanksgiving” taken from Colossians 2:7 as their theme.

“Credit Union was established in the year 1998. It is because of God’s grace that He opened the door for us to celebrate this 25th Silver Jubilee. We give all the glory & honour to him,” said Avai Horam, President, of Credit Union.

“The magnitude of the roles and responsibilities of Credit Union is a serious one. Therefore, let every young and old generation economically unite and walk hand in hand judiciously in the land of Tangkhuls. Let God be the keeper and preserve CU to be a reflection for the younger generation,” said Dr Ngahorshai Luithui, Convenor, Silver Jubilee Committee, Credit Union, Ukhrul.

Luithui continued to add in his welcome address that there is a unique story of God’s love in Tangkhul Land. William Pettigrew brought light to the Tangkhuls as he opened his eyes spiritually and introduced an education system that has helped people to grow and enhance the region’s economy as well. He expressed his heartfelt gratitude to Capt. Ashok Y. Tipnis, the man who established Volunteers for Village Development (VVD), his family & colleagues for their needed help & unceasing support in setting up various societies to improve the economy of people in the region.

To materialise one’s idea needs lots of dedication. Therefore R.S. Jollyson, President Incharge, TNL expressed his appreciation to the Credit Union for achieving the significant landmark. He wished Tangkhul to think beyond individual cocoons as there are hardly any people who have the desire to work together as partners and take up bigger projects. “I want to encourage this kind of move. I believe that Credit Union is encouraging the entrepreneurs as well though I don’t know in detail. But I want CU to please focus on education as well. Those educated Tangkhuls and well-to-do can collaborate, invest and work together to improve the education system. To mould the children of our community and not for profit-oriented and commercialized purposes. Among all the worst step-motherly treatment given to us by the Manipur government is education according to my perspective. To kill a generation is to deprive education. It takes time to build the system but to build a wealthy, healthy & peaceful society, we need to focus on education. When we talk about investment, let’s not only go business or economy but I would like to appeal to kindly focus on education as well. As Credit Union reaches its milestone of 25 years, let this celebration be a happy one,” said Jollyson, in his speech as one of the Guests of Honour for the function. As CU is an association of people united by some common bond or community of interest joined together in a cooperative endeavour, Tennyson Kazingmei, Former Project Director, VVD opined that “Credit Union is an idea. Credit Union is not only a program. It is not only an activity. It is an idea. We need to work on that idea or otherwise, the idea is dead. But observing a celebration like this is I think you have work on the idea.”

Kazingmei further explained that Credit Union is ownership. “The ownership is the members of the Credit Union. You have to own it because your savings & deposit you deposited is your money. That is why Credit Union is your ownership. Credit Union is an enterprise and enterprising because you have to have very meaningful purposeful activities in your mind. And not only in your mind but you have to do those activities. Else, even if you take a loan today from Credit Union, and if your investment is not enterprising, you are a dead body. Credit Union is creativity. The reason is, that others are also doing the same thing and you (CU) do the same thing differently. The Credit Union Cooperative Society is freedom. Credit Union is sharing. This Credit Union is a credit corporate It is a union of sharing. Which means having group responsibility, group accountability, to help one another in times of need. Credit Union is sharing. Credit Union is understanding building. If there is a credit Union or cooperative society, there is a continuing education and financial literacy program. A Credit Union must build understanding,” said Kazingmei and he released the ‘Credit Union Silver Jubilee Souvenir (1998-2024) as a Guest of honour for the function.

As CU celebrates its 25 years of entrepreneurial journey, it becomes a good moment of reflection for the CU family. “Credit Union Silver Jubilee celebration is a good time to count God’s magnanimous blessings within the last 25 years. From the beginning as a General Manager, the nature of CU’s working style has adopted like the bank. As all the Board Members work hand in hand wholeheartedly, God has been with us and His bountiful blessings upon CU gradually. It makes me realise that the inspiration to set up CU, with the hope to increase, multiply, and be a blessing for the Tangkhuls to be one of the most important societies in the field of financial institutions for economic sustainability must be from God. As CU is progressing by God’s grace, CU has not only purchased a plot and set up its own Credit Union Complex but has given a platform to many societies & organizations to build their platforms. I would like to tell all the members that this is because of the blessings of God upon CU. Long Live Credit Union!,” said Luckson Kengoo, Managing Board Director, Credit Union.

Meanwhile, Hon’ble MLA Ram Muivah, 44-Ukhrul extends his compliment to the founders/pioneers and current promoters of CU for their foresight and vision. He said, “In the absence of adequate lending institutes in Ukhrul, limited availability of bank branches etc, Credit Union has been rendering yeoman service in the field of advancing loans to the Tangkhul people in particular and Manipur in general over the past 25 years & counting. Please keep up the momentum. It should be the dream and vision of the Credit Union to one day graduate into a successful bank.”

Kengoo Zuringla, IAS, Deputy Commissioner, Ukhrul also gave her warm congratulatory message and expressed her appreciation to the few visionaries of CU and as a Chief Guest of the Silver Jubilee Celebration. “The union is a formation of retired government servants who have committed themselves to render financial assistance to those in need by establishing a financial credit institution. The vision of the pioneers who started this venture to serve the Tangkhul have come a long way in alleviating the difficulties faced by those who needed financial assistance from banking institutions,” concludes Kengoo.

About Credit Union: Credit Union Ukhrul is a registered body under the Cooperative Society Act. It is a micro financial institution with thousands of customers created by broad-minded groups of societies and individuals to help the community.

CU Objective: To give hassle free quality service and lend out money at a minimum interest rate to their clients with full transparency. CU believes in protecting client privacy in transactions and services which will remain anonymous according to client needs.

CU’s Products & Services: Saving Account, Fixed Deposit, Cash deposit, Loan/Lending facility, Supply materials to weavers, real estate-rent out room for offices, shops and more.

CU’s Vision: Strive to remain Credit Union as a strong firm for Economic Sustainability.

(The article is contributed by Dr. Phungchamnao Ranreiphi Kharei.)


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