A Judicial Service Staff Co-operative Fund (JUSCO Fund) has been launched to provide financial relief to members of the Judicial Service Staff Association of Ghana (JUSAG) and others in the legal practice. JUSCOFUND is expected to create and distribute wealth to all members and other stakeholders.
Chief Justice Kwasi Yeboah, launching the Fund in Accra on Tuesday, January 31, 2023, urged the executives of the Association to manage the Fund with integrity.
According to him, accountability, transparency and integrity were needed in every facet of life, and that the managers of the Fund owed it a duty to their members.
“In the name of accountability, the Judicial Service Staff Association of Ghana executives must not dare to fail to manage the Fund with integrity, while upholding the laws of the cooperative at all times,” he said.
He contended that the vision and creation of the Fund was novel, since it would bring respite to staff whenever they needed financial assistance.
Chief Justice Anin Yeboah underscored the importance of an effective management of the Fund, by necessarily investing in assets that would rake in maximum benefits, while retaining a portion of inflows to meet the needs of the members.
He also said the cooperatives landscape had evolved over the years, with the coming into force the Cooperative Act NLCD 252.
The Chief Justice further called on the executives to disseminate and educate all the members to sign up for the Fund.
A Justice of the Court of Appeal, Senyo Dzamefe, on his part, reiterated the importance of accountability and transparency in the dealings of the management of the Fund.
He called for a level playing field and equal treatment of all members/stakeholders of the Fund, saying: “Don’t take it as an opportunity to lord over your members.”
Justice Dzamefe urged the JUSAG executives to know where to invest the fund, in order not to “gamble with our money.”
The Court of Appeal Justice also called on the members to endeavour to pay back monies that would be loaned to them.
The President of JUSAG, Samuel Afotey Otu, indicated that the Fund formed part of his campaign promise to the members to ensure their financial independence.
He cautioned the Service staff against assuming that they were automatically entailed to the Fund by the virtue of their membership.
According to him, one was qualified to benefit from the Fund by acquiring shares, which range from GH¢50.00.
Mr. Otu was hopeful that the Fund would shield the members from the exacerbating banking lending rate, explaining the Fund would charge interest rate of 15 percent.
He urged all staff of the Judicial Service to take advantage of the Fund.
The launch of the Fund had Mrs. Dorinda Smith Arthur, a Circuit Court Judge, and Kwabena Yeboah Apreku, Director of Cooperatives, addressing and presenting a certificate to the Chief Justice.
