Credit unions asked to increase education on financial literacy

Mr. Gordon Kwaku Asubonteng, the Dormaa Municipal Chief Executive, has appealed to credit unions to increase education on financial literacy to help enlighten the populace on prudent financial management and discipline.

Mr. Asubonteng made the appeal at the 15th Annual General Meeting (AGM), of the Dormaa Area Teachers’ Co-operative Credit Union (DATCCU)

He said literacy on proper financial management would ensure rapid business growth and expansion to boost the economy of the Municipality.

The MCE expressed appreciation to the Union for the huge investment made towards the socio-economic development of Dormaa–Ahenkro since the inception of its operations in the town.

Mr. Ralio K. Bakers, acting Regional Manager for Brong–Ahafo chapter of Credit Union Association (CUA), said it was important for members to save regularly, ensure prompt repayment of loans and regular attendance at meetings in order to keep the Union in the competitive credit union environment.

Mr. Bakers appealed to committees of the Union, particularly the education committee, to intensify their membership drive and campaign to retain and sustain the interest of loyal and committed members through the provision of valuable, efficient and prompt services.

“This however, can be achieved if the various committees have a clear understanding of their roles and perform these roles efficiently,” he said.

Mr. James Ameyaw Yeboah, Chief Executive Officer of the Union, said they were providing Information Communication and Technology (ICT) training to interested youth in Dormaa-Ahenkro.

Mr. Yeboah said that would build their individual capacities to increase the opportunities for employment.

Mr. Yaw Asua–Yeboah, National Chairman of CUA, reiterated the need for members to repay loans promptly to enable others to also benefit.