Credit Unions re-brand to be competitive

Workplace Credit Unions are re-branding to cover more grounds, increase membership and raise capital bases.

As part of the drive (re-branding), the Unions were shedding restrictive names linking the groups to their workplaces or professional groupings and assuming catchy and even celestial ones.

Mr. Emmanuel Andam, Volta Regional Cooperative Officer told the Ghana News Agency (GNA) during the 13th Annual General Meeting of the Ho District Teachers’ Cooperative Credit Union on Friday in Ho, that the unions were tapping into the growing popularity of that concept of ‘pooling savings and offering member-contributors credits with low interests’.

The Ho District Teachers’ Cooperative Credit Union Ltd is now to known as New Vision Cooperative Society, Jasikan District, Golden Opportunity Credit Union, Hohoe District Universe and Akatsi District Ultimate Credit Union.

Mr. Andam said the new names would also enable the Accountant General’s Department track and deduct amounts in loan repayments due the Unions wherever those clients were in the country.

Mr. Stephen Dzorkpata, Outgoing Chairman of the Board, listed withdrawals, non-payment of loans and the high incidence of members using savings to offset loans as some of the challenges.

He said despite the harsh economic conditions, the Union made a marginal net surplus of 6,360.18 cedis.

“Our expectations were not met but we have cause to smile a little because we have not gone bankrupt,” Mr. Dzorkpata stated.

Mr. Emmanuel Darko, General Manager of Credit Unions Association, Ghana, said credit unions were the “best bet” for the wellbeing of the Ghanaian worker.

He said while a bank loan might be like a noose around the neck of that borrower, credits from credit unions were human development centred.

The first phase of the union’s 250,000 cedi permanent office block was commissioned.

Source: GNA

Jake elected NPP National Chairman

Mr. Jake Otanka Obetsebi-Lamptey, has been elected the new National Chairman of the New Patriotic Party (NPP).

He polled 2,030 votes to beat off the challenge by his four other contestants, Stephen Ayesu Ntim, who had 1,804 votes, Sammy K.A.B Crabbe, 43, Dr Charles Wereko-Brobbey, 29 and Felix Kwasi Owusu Adjapong, 25 votes.

This was at the party’s one day national delegates’ conference held at the Baba Yara Sports Stadium in Kumasi.

Other national officers elected by the 4,500 delegates from the 230 constituencies were Mr. Fred Oware, first Vice Chairman, Sheikh T.B. Bamba, second Vice-Chairman, Madam Sophia Horner-Sam, third Vice-Chairman, and Esther Dzifa Ofori, Treasurer.

The rest included Mr. Kwadwo Owusu Afriyie, General Secretary, Alhaji Moctar Bamba, Organizer, Anthony A. Karbo, Youth Organizer, and Ms. Otiko Afisah Djaba, Women Organizer, and Abubakar Sulemana, Nasara Coordinator.

They would manage the affairs of the party for the next four years.

As the Ashanti Regional Electoral Officer, Mr Kofi Asomani, announced the results at 0130 hours, the anxious supporters of the elected candidates went into frenzy and danced to Phillipa Barfi’s hit song “Go-Go High”, which was adopted by the NPP as its campaign song in the 2008 general elections.

The voting and collation lasted for about eight hours and were conducted in a peaceful and orderly manner, presenting the 300 police and Fire Service personnel deployed to provide security with no troubles.

Mr. Obetsebi-Lamptey said they were grateful to the delegates for the opportunity to serve both the party and the nation.

He vowed to lead the NPP to recapture political power in the 2012 general poll.

He called for an end to complaints and bickering in the party and said they should concentrate and move to the future.

“The country is crying, the people are suffering, they are in depression, looking to the NPP to come to their rescue”, he said, drawing applause from the jubilant supporters.

Mr. Obetsebi-Lamptey demanded from the party members’ not only hard work but cooperation and support for the leadership to win back political power.

The new executive was sworn in by Mr Peter Mac-Manu, out-going National Chairman.

Earlier, former President John Agyekum Kufuor underlined the need for the party to resist the emergence of personality cult in the NPP, saying this was not only alien to its tradition but a threat to its unity.

“Reflect, Re-build and Recapture”, was the theme for the conference.

There were fraternal messages from all the political parties except the ruling National democratic Congress (NDC).

Source: GNA

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