CUA total assets stood at 702 billion cedis in 2006

Kumasi, April 26, GNA - Mr Emmanuel Oduro-Darko, General Manager of the Ghana Co-operative Credit Union Association (CUA), has said the total assets of CUA stood at 702 billion cedis in 2006.

He also said CUA with a total membership of 250,000 granted 391 billion cedis loans to its members in the same period. Mr Oduro-Darko announced this at the inauguration of the Ashanti regional branch of the Ghana Pharmacists Co-operative Credit Union in Kumasi on Wednesday.

He said credit unions have played vital role in the economy because of their quick response to the financial needs of their members. Mr. Oduro-Darko commended the Saint Peter's Co-operative Credit Union in Kumasi for being the best credit union in Ashanti and revealed that its total assets in 2006 stood at 47 billion cedis. The General Manager was also happy with the strides being made by the Pharmacists credit union to extend its branches to almost all the regions to help pharmacists and other members.

He appealed to Ghanaians to cultivate the habit of savings to help them in times of financial difficulties.

Mr Oduro-Darko stressed the need for the management of the pharmacists' credit union in Kumasi not only to open its doors to pharmacists but other technicians and professionals to increase its membership.

Mr David Guat, General Manager of the Ghana Pharmacists Co-operative Credit Union, said the union has been in existence since 1998 and has branches in all the regions.

He said the Ashanti regional branch was established early this year to assist professional pharmacists and other professionals to expand their activities.

Mr Guat said the branch office is located near the Bantama market and appealed to pharmacists and other professional bodies to join the union for quality services. Mr B.E. Gbedema, representative of the Kumasi office of the union, said the union has a membership

of 84 and that arrangement has been made for its field officer to collect savings from members from their workplaces.