By Jamesetta D Williams
MONROVIA – The President of the University of Liberia, Dr. Layli Maparyan, has donated L$1 million to the University of Liberia Credit Union (ULCU) as part of efforts to strengthen the institution’s financial support system and provide relief for employees facing economic challenges.
The donation was announced on June 13, 2026, during the Third Annual General Meeting of the University of Liberia Credit Union held on the university’s Fendall campus. The gathering was held under the theme, “From Savings to Investment: Unlocking Cooperative Potentials.”
According to Dr. Maparyan, half of the contribution, amounting to L$500,000, will be dedicated to providing small emergency grants for university employees in need of assistance with food, transportation, medical expenses, and school fees for their children. The remaining L$500,000 will be used to purchase shares in the credit union, helping to strengthen its capital base and improve its long-term sustainability.
As part of the initiative, Dr. Maparyan officially launched the President’s Employee Emergency Fund, which will be administered by the University of Liberia Credit Union. She further pledged to contribute L$1 million annually throughout her tenure as president to ensure the fund remains available to assist employees during difficult financial periods.
“For 2027, it will be replenished, and the full L$1 million will be added again and made available throughout the year,” Dr. Maparyan assured.
The University President explained that the initiative was designed to address the growing economic pressures confronting many of the institution’s lowest-paid workers. She encouraged employees to cultivate a culture of savings, make responsible borrowing decisions, and actively participate in the growth of the credit union.
Dr. Maparyan also called on the leadership of the credit union to pursue prudent and sustainable investment opportunities that would benefit members while ensuring the institution’s long-term financial stability.
Speaking at the event, ULCU Chief Executive Officer, Mr. Lamin Salley, expressed gratitude for the donation and reaffirmed the credit union’s commitment to supporting its members financially, morally, and technically.
“Together, we will continue to move from savings to investment, unlocking cooperative potential that delivers prosperity and belonging for all,” Mr. Salley stated.
He acknowledged several challenges facing the credit union, including manual operational systems, limited staffing, and inadequate facilities. However, he described these obstacles as opportunities for growth and modernization. Mr. Salley also presented a business proposal outlining an investment strategy aimed at expanding the union’s services and strengthening its capacity.
In another significant development, members of the credit union agreed to dedicate a portion of their annual dividends toward the construction of a proposed US$1.5 million Cooperative Development Bank facility. Once completed, the facility is expected to host sub-branches of six commercial banks, improving access to financial services and facilitating faster transactions for members of the university community and residents of Fendall.
The initiative marks a major step toward enhancing financial inclusion, strengthening cooperative development, and improving the welfare of University of Liberia employees through sustainable investment and support programs.
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