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Join credit unions to improve your businesses -Charles Boateng

botchway March 27, 2018


From Frederick Danso Abeam, Akrofuom

The Ashanti Regional Director of the Department of Co-operatives, Mr. Charles Kwaku Boateng, has stressed the need for all and sundry to join co-operative credit unions, so as to generate enough capital to improve their businesses.

Mr. Boateng noted while speaking at the 30th Annual General Meeting (AGM) of the Akrofuom Teachers Cooperative Credit Union (ATCCU) at Akrofuom near Obuasi in the Ashanti Region that interest on loans at Co-operative Credit Unions is very small and charged Ghanaians to build financial security by joining credit unions.

The Regional Director pointed out that over the years, co-operative credit unions have helped shape the lives of many Ghanaians, from the Junior High School (JHS) level to PhD holders by way of employment and called for its sustenance.

According to him, those who take the credit union seriously and cultivate the habit of saving are the people who live better off in a country with high inflationary trends like Ghana, in terms of financial crises.

He appealed to the Bank of Ghana to extend the deadline given to co-operative financial institutions and co-operative credit unions for the acquisition of operating licences. According to Mr. Boateng, enough education has not been given on the directive, hence the need to extend the deadline.

The Chairman of the Board of Directors of the Akrofuom Teachers Co-operative Credit Union, Mr. Jonathan Kaku Acquaye, expressed regret that members who take loans invariably refuse to pay back, thus forcing the management to resort to the courts to retrieve the monies.

Mr. Nti Adu-Asare, Manager of the ATCCU, on his part, charged the staff to ensure that they receive whoever visits the credit union’s offices warmly, and warned that any negative attitude on the part of the staff would affect the fortunes of the credit union.

Pix 1: Mr. Charles Boateng speaking at the function

Pix: 2 Mr. Jonathan Acquaye answering a question during question time

Pix 3: Mr. Nti Adu-Asare making a point at the AGM


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