Last Updated- Jun 29, 2009 18:15 - - 0 Comments


Credit Union Micro-Finance unit supports 47 groups

The Wa Community Credit Union in collaboration with two non-governmental organizations (NGOs), SPEED GHANA and Freedom from hunger, have supported 47 small scale enterprises with a total of,  GH¢80,905.00.

The groups, mainly women farming groups with a total of 1,104 individuals, have been assisted to engage in income generating activities, after which they would repay the loans within six months.

Mr. Jacob Dourinaa, Chairman of the Board of Directors of the Wa Community Credit Union announced this during the union’s annual general meeting at Wa at the weekend.

He said the beneficiary groups had saved about GH¢15,900.00 so far and hoped that such savings would be doubled by the close of this year.

Mr Dourinaa said two members of staff have been sponsored to do Diploma courses in Business and Commerce at the University of Cape Coast and urged all the workers to live up to their responsibilities, to achieve the desired goals in the coming years.

The Board Chairman however lamented that, in spite of the hard work to keep the Credit Union operating, loan delinquency, low savings culture and non-commitment of members to policies and activities, were challenges bedeviling the union, and called on all stakeholders to live up to their responsibilities to overcome the challenges.

Mr. Clement Tuorah, Upper West Regional Cooperative Officer of the Department of Cooperatives, appealed to the staff of the Union to remain committed and vigilant, to ensure that all loans given out were recovered within the stipulated period, so as to allow other people to enjoy the facility.

He also urged them to step up their mobilization and investments, so as to attract more members and profits that would give the union a solid and functional capital for the ventures.

Source: GNA

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