Teachers Scheme mobilises GH¢3.7 million in savings

The Ashanti Region Catholic Teacher Support Scheme, a cooperative credit union, has mobilised GH¢3.7 million in savings from its members.

Mr Gabriel Agyare-Gyamfi, Scheme Manager, said the goal is to encourage the culture of savings among members to ensure their financial security.

He told Ghana News Agency in Kumasi that, the scheme provides support to the teachers in times of need and assist them to acquire building plots for those interested in owning houses.

A total of 350 plots have been acquired for members.

The scheme, which was started eight years ago by 850 teachers from Catholic schools across the region, now has a membership of 1,600.

Mr Agyare-Gyamfi noted that credit unions are helping to fight poverty and asked people to do business with the body by cutting down on frivolous expenditure to save part of their earnings against the future.