Nkoranza (B/A), Feb. 20, GNA - The Nkoranza Area Teachers' Co-operative Credit Union in Brong-Ahafo made more than one billion cedis in ordinary savings as at June 2003.
It realized 31.2 million cedis in special savings account. Mr Alex Baffoe-Nkrumah, chairman of the union announced this at an annual general meeting at Nkoranza on Tuesday.
He disclosed that the union granted total loans of 1,076,831,310 cedis, representing 43.3 percent increase over the previous year's facility granted to members.
Membership increased to 849, the chairman added, but complained that 77 of the members were dormant.
Mr Baffoe-Nkrumah said the union offered scholarships worth two million cedis to support the education of some brilliant but needy students at Nkoranza Secondary/Technical and Busunya Senior Secondary schools.
Five students from the two schools were offered support of 1.5 million cedis at the meeting.
Mr Kwame Ampofo-Twumasi, District Chief Executive, congratulated the teachers for coming together to pool resources to enhance their lifestyles.
He expressed regret about how some teachers and other workers in the area were of late suffering at the hands of 'shylock' moneylenders who chased them to the banks and their work places in demand of their money.
The DCE asked the teachers to redouble efforts to help improve the poor standard of education in the district for a better performance in the basic education certificate examinations.
Mr Jarvis Agyeman-Badu, district director of education, deplored the attitude of some members of the union who refused to pay back loans granted them and appealed to them to settle their debts promptly. He advised non-member teachers in the district to join the union to enjoy credit facilities.
Mr Philip Asante-Kudom, Manager of the union, noted that the reluctance of beneficiaries of the loan facility to pay back was a threat to the promotion and development of the union.
