Brief History
Mataivalu Savings & Credit Union (MSCU) was registered on the 13 October 1999. This Command initiative for the establishment of MSCU has been one of the pillars for strengthening the welfare concerns of the service men and women in the Republic of Fiji Military Forces (RFMF)..
The founding Directors took upon themselves this stupendous task resulting in the first loan to members on 04 January 2000 as endorsed by the Commander of the RFMF. One of the members of the Board gave twenty five dollars to open the pass book for the credit union in July 1999. This was the genesis of MSCU.
The MSCU have over the years assisted several organizations in major development loans including the formation of Homelink Security Services and most recently for the Warrant Officers and Senior Non-Commissioned Officers Mess. The former Organization is also a brainchild of the RFMF and currently being managed and operated by members of the RFMF in the Reserve and Territorial List.
A Special General Meetings was convened on the 12 May 2009 to address the growing concerns of operational affairs at MSCU. This resulted in the appointment of Commander (CMDR) F.B. Kean as Chairman, Lieutenant Colonel (LTC) I. Vasu, Captain J.W.Faktaufon, Warrant Officer Class One (WOI) A.D.Toka, WOI S. Malani and Mr S.Reddy. Credit Committee: Capt J.W.Faktaufon, WOI A.D.Toka and Mr S.Reddy. LTC Vasu and WOI Malani have now both been replaced by Lieutenant Commander (LCDR) H.B. Tawake and WOII S. Naukauvadra. The Supervisory Committee is ably led by LCDR H.B.Tawake, WO1 I.Vola and WO1 A. Waqalevu.
The current Board of Directors (BOD) under the leadership of Cmdr Kean have managed to restore credibility into the operational affairs of MSCU. The task is continuing however the stability we have achieved will ensure that this is a platform in which MSCU can continue to project and expand its operations in areas of welfare development for its members.
A milestone decision reached at the SGM of 2009 was that membership of MSCU only be available to Serving members of the RFMF and civilian staff at MSCU. The exercise to terminate the members not meeting this criterion has been successfully concluded.
A Command decision in 2010 to introduce a compulsory savings for all personnel confirmed for tour of duty was met with some skepticism however this has all changed in the feedback received from returning members who have managed to save quite substantial amounts which was normally difficult to achieve by our service men and women. This Command decision has been widely applauded and personnel have recommended that it continue for all members embarking on a tour duty to an overseas mission. It is pleasing to read in the feedback proforma’s at MSCU on the investment opportunities that this created for members.
