Credit Union Association wants non-performing unions flushed out

8 Sunyani, (Brong Ahafo) Sept. 24, '98

The Credit Union Association (CUA) of Ghana has tasked the registrar of co-operatives to re-register all credit unions to ensure that those who are not performing according to set standards are flushed out of the system. However, those who are now not functioning well but could do so with a little push would be assisted by the association to stand on their feet. Nana Kwasi Agyapong, officer in charge of the African Credit Unions Revitalisation programme in Ghana announced this at a three-day seminar for 26 members of the Brong Ahafo branch of the association which ended at Sunyani yesterday. The seminar sponsored by the Canadian Co-operative Association (CCA) was aimed at sharpening the managerial skills of the participants to enable them adopt measures to avoid liquidity problems. Nana Agyapong explained that under set standards adopted by CUA, equity capitals of the unions should be at least 20 per cent of their total assets. In addition, loan defaults should not be more than five per cent of the total loans outstanding.