Credit union grants 561 loans to members

Dormaa District Teachers' Cooperative Credit Union has from January to June this year granted a total of 561 million cedis in loans to members whilst savings increased from 299 million cedis to 663 million cedis.

Mr P. Amo Owusu-Budu, Chairman, who made this known also said the Union decided to allow the Controller and Accountant General's Office to make a source loan deductions from the salaries of beneficiary members.

The decision was taken at the Union's general meeting at Dormaa Ahenkro to ensure that loans granted were paid promptly to avoid defaults.

Mr Owusu-Budu called on members to show interest in the operations of the union and abide by the rules to enable it function effectively.

Mr James Ameyaw-Yeboah, Manager of the union called on members to woo non-member colleagues to join the union by educating them about the importance of the Credit Union system.

He also advised them to make regular savings to enable them to obtain financial support when the need arose.

The Union later awarded prizes to 13 of its old members and some board members for their contributions to the development of the union.