Ashanti Region has highest asset in CUA

Kumasi (Ash), April 27, GNA- Mr. Dominic S. O Annan, the Ashanti Regional Chapter Chairman of the Co-operative Credit Union, said of the Credit Union Association (CUA) nationwide, the region had so far recorded the largest asset.

The 47 regional CUA members as at June 2007, had a total asset of 151.9 billion cedis with 116.3 billion cedis in savings and a total share of 10.4 billion cedis.

He explained that of all the regions in the country it was only the Ashanti region, which had exceptionally improved in financial contributions and had been to sustain the union. Mr Annan was speaking at the Grace Baptist Co-operative Credit Union annual general meeting in Kumasi.

He said based on the performance of the regional chapter, a 17-member team from South America, Germany, Russia among others representing the World Bank, were sent to the region to learn Micro-Financing from their counterpart in the region.

Mr Annan congratulated the Grace Baptist Chapter for been in good standing but said he was not happy because some Ghanaians did not appreciate the culture of savings. He urged members of the Chapter to form groups of three to five to enable them to access loans, which he said was to help improve their businesses.

In his report, the Chairman of the Grace Baptist Chapter, Reverend Alfred Appiah, said within a year, its membership increased from 834 to 976, its asset increased from 1.2 billion cedis to 1.7 billion cedis. Rev. Appiah urged loan defaulters to repay the loans to enable others to access the package.

Six members rewarded for been of good standing, were Mr. Eric Nsiah, Mrs Esther Osei Yeboah, Mr. Boakye Frimpong and Miss Alice Serwaah Asumadu as well as Mr. Yaw Sebeh and Mrs Mabel Osei.