Bank and credit union form partnership

Takoradi, Nov. 25, GNA - United Bank of Africa and Gestro Cooperative Credit Union have launched a partnership to share common facilities and services.

The partnership also would enable customers of Gestro Credit Union to use the UBA's Automated Transfer Machine (ATM), cheque books, SMS and internet banking services to ensure efficiency in their operations. Speaking at the launch in Takoradi the Chief Executive Officer of the Gestro Cooperative Credit Union, Mr Kusi Boachie Yiadom, said the partnership would help the credit union to grow. Mr Yiadom said the partnership was the first in the history of the country where a credit union had gone into alliance with a bank to share common facilities.

He said customers of the Gestro could now pay for loans and savings through Airtel Payment System in the comfort of their homes and offices. "Gestro appealed to the Bank of Ghana (BoG) to speed up the passage of the Credit Union Bill to facilitate mobilization of more resources. He said Gestro membership had increased from 640 to 10,000 with assets of GHc5, 000,000 as of October. He said the credit union had established branches at Tarkwa, Agona, Nkwanta Daboase, and two branches in Takoradi. 26 Nov 10