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Association Commissions 1.2 Billion Office Complex

2007-06-25 22:10:15
This article has been read 831 times.

Bawku Teachers Cooperative Credit Union Association (BTCCUA) increased its net savings to ¢3.8 billion in the 2006 financial year as against ¢2.8 billion in 2005, representing 36 per cent.

Total shares of membership for the same period also rose to ¢297.4 million from ¢202.5 million in 2005, which is above the association’s standard.

Mr. Cletus Atugiba, chairman of BTCCUA, disclosed this at its 19th annual general meeting at Bawku . It also coincided with the commissioning of a ¢1.2 billon office complex of the union.

He said membership also rose from 950 to 967, whilst its total assets also increased from ¢3.7 billion to ¢5.3 billion, an increase of 46 per cent.

He said the union had achieved this through the commitment, devotion and hard work of the Board of Directors, staff and committee members with the support of the rank and file of the union.

Mr. Atugiba observed that the introduction of the Individual Personnel Payroll Data (IPPD II) by the Controller & Accountant General’s Department had made it difficult for the union’s input to be deducted from members’ salary at source.

He said this had led to a high loan delinquency and appealed to members to honour their obligations to make the union a vibrant one to meet their aspirations.

Mr. Emmanuel O. Darko, General Manager of Credit Unions Associations (CUA) of Ghana, also disclosed that CUA had mobilized over ¢584.2 billion from its 257 unions nationwide with a total membership of 202,390.

He said its total assets stood at ¢702.1 billion with loans given out totaled ¢398.5 billion.

Mr. Darko noted that in spite of the vital role being played by credit unions in the economy of the country, there had not been any appropriate legislation to guide its operations.

He expressed hope that the proposed Credit Union Bill which had been pending for the past five years would be passed into law to enable the union to expand its services to give financial relief to most Ghanaians.

Mr. Darko appealed to workers to set their priorities right and called for the need to be diligent and disciplined in the judicious use of resources.

He said this would enable them to be imbued with savings habits which would enable them to mobilize the needed capital to venture into businesses to reduce poverty.

Mr. Abdul-Rahman Gumah, Bawku Municipal Chief Executive, commended the union for complementing government’s efforts in reducing poverty through the provision of financial access at affordable rates which promotes entrepreneurship.

He said as teachers, society looks up to them for exemplary conduct for the upbringing of the younger generation entrusted into their care and challenged them to translate their unity and selfless dedication in sustaining the union into the classrooms to shape the future of their students.

He urged teachers to adopt acceptable means of resolving disputes through dialogue and consultations and avoid violence in seeking government’s attentions to their grievances.

source: GNA

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