Car loans scheme for teachers

Begoro(E/R), June 16, GNA - The Teacher's Fund has established teachers car loan scheme and members who contribute 100,000 cedis a month for two years, qualify for loans between ten million cedis and fifty millions cedis to purchase a car.

At present the minimum contribution is 25,000 cedis per month per member and is deducted at source.

The Teachers' Fund Administrator, Mrs. Rosalyn Darkwa announced this at an education programme at Begoro to sensitise teachers on the current developments of the fund.

She said the fund was established in 1999 to support teachers during their working lives and retirement and advised teachers to take advantage of the fund while in active service.

Mrs. Darkwa expressed her displeasure to the fact that some teachers fall victims to shylock money lenders who made them pay very high interest rates when they borrow money to them and advised financially-stricken teachers to apply for soft loans from the fund to improve their welfare rather than going to shylock money lenders.

She also advised teachers to regularize their membership to facilitate the processing of their personal documents.

The Fanteakwa District Secretary of GNAT, Mr Stephen Nakotey Addo, was optimistic that the education programme would create greater awareness among the teachers to make them increase their monthly contributions and enjoy the benefits of the facility.

The Fanteakwa District Director of Education, Ms. Mary Animwah, who chaired the function urged teachers to be disciplined to project the image of the profession.