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General News Sun, 30 Mar 2008

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Managers of SARI credit union vacate post

Tamale, March 30, GNA- Managers of the Credit Union of the Savanna Agriculture Research Institute (SARI), took advantage of the Union's training facilities to upgrade their skills and left for greener pastures.

This is particularly with High National Diploma graduates, three of whom had vacated their post within the last two years. Dr Kwasi Atokple, Chairman of the Board of Directors of the Union, said these when he presented the report of the Union at its 23rd Annual General Meeting of the in Tamale on Friday.

He said to forestall the situation, the Union was discussing with the Director of SARI to explore the possibility of the Institute seconding an accounting staff to take care of the affairs of the Union. Dr Atokple also noted the alarming rate at which members were withdrawing their savings and observed that this was prevalent among those who were expected to repay their loans. He said this had made the capital base of the Union weaker to the detriment of the Unions long-term growth and survival. Concerning the financial standing of the Union, Dr Atokple said, as at June 2007 the total assets of the Union stood at GHC 271, 596.42.

He said between June 2007 and March 2008, a total of 442 applications for loans were processed and GHC 211,078.00 was disbursed. Dr. Atokple said so far interest on loans were the only source of income for the Union, a situation which he said was not sustainable. He said in an attempt to diversify the sources of income for the Union, the Board had decided to put up a hostel at the Nyankpala campus of the University of Development Studies. Mr Wahab Suhyini Wumbei, the Tolon/ Kumbugu District Chief Executive, urged the Union to embark on vigorous educational campaign to recruit more members into association. He urged the members to work as a team and transparently towards the growth of the Union. 30 March 08

Source: GNA

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