|
Credit Unions unhappy with CAGD integrated payroll data
Hohoe, April. 1, Ghanadot/GNA- The
Controller and Accountant General's Department (CAGD),
Integrated Personal Payroll Data One and Two has undermined
the revenue base of Credit Unions, whose members are paid
through that Department.
This has triggered massive membership withdrawal from such
Credit Unions and "hyper-loan" delinquency.
Mr Leonard K. Apatey, Board Chairman of the Hohoe District
Teachers' Co-operative Credit Union Limited (HODTECCU)
expressed the concern at the eight Annual General Meeting of
the Union at Hohoe last Friday.
He said the revenue base of HODTECCU had dwindled from
95,000 Ghana Cedis to 35,000 Ghana Cedis describing the
situation as "supra-crisis".
He explained that interests on loans could not be recouped
while savings have also nose-dived.
Membership has also suffered a 0.09 percent fall from 2,083
in 2006 to 1,891 in 2007.
Mr Apatey however urged members to increase their savings
because "the credit union is the surest way to create
wealth".
Mr Alex Adu-Donkor, Volta Regional Co-operative Officer said
CUA was a tool for poverty alleviation and urged members to
embrace its innovative products to get rich.
He called on membership and dependants to patronize the
National Health Insurance Scheme, National Youth Employment
Programme and the impending National Identification
Programme.
Meanwhile the mandate of the seven-member Board of Directors
was renewed for a further two years to enable it complete
the targets set in their operations.
GNA
|
