C/R CUA assists members

Assin Foso, Sept. 15, GNA - The Central Regional Chapter of Credit Unions Association has granted 25,542,000,000 cedis loans to members and mobilised 36,772,000,000 cedis as savings from members as at the end of June 2005.

Mr Samuel Kofi Annor, Zonal Manager in charge of Central Region, who announced this said the total assets of the Association stood at 47,7771,000,000 cedis while membership was 21,459. Mr Annor who is also the Audit Co-ordinator stated this in at a function during which the Assin District Teachers Credit Unions presented 20 benches to four health institutions in Assin North and South Districts.

The beneficiaries were the St. Francis Xavier Catholic Hospital at Assin Foso, Assin Breku Health Centre, Assin Manso Health Centre and the Nyankomase Ahenkro Health Centre. The presentation formed part of the activities planned for the celebration of the Golden jubilee of the CUA in Ghana.

Mr Annor attributed the high rate of poverty in the country to the mismanagement of time and resources and appealed to workers to be time conscious since "time is money".

Mr Eric Owusu Ambrose, Assistant Director of Education and Chairman of Board of Directors of the Teachers' Credit Union assisted by the Vice Chairperson, Mrs Nancy Oyunuga of the GES, presented the benches. Mr Ambrose appealed to teachers who had not joined the Association to do so to save them from the harsh terms of moneylenders.

Ms Elizabeth Tinkorang, Presiding Member of the Assin North District Assembly, commended the Association for the gesture and assured them of the Assembly's support in the execution of their programmes. Mr P. Antwi Boasiako, Assin South Co-ordinating Director, advised workers not to accept loans for which more than 30 per cent of their monthly salaries would be used for repayment.

He said the terms of repayment of loans created more problems for workers if the facility was not invested in income generating ventures.