Credit Unions across the country have been called upon to help improve the financial health and wellbeing of members.
They could do that by working harder to create value for members of the credit unions and providing financial services to members in the form of reduced interest rates and rewarding members with high dividends when realised.
Mr Dramani Natomah Adams, the Upper West Chapter Executive Committee Board Chairman of the Credit Unions Association, said this during the region’s celebrations to mark this year’s International Credit Union Day held in Wa.
He said credit unions were member-owned and not for the core objective of making profits and therefore, it was important for managers of credit unions to deliver the needed financial capital, which in effect would be geared towards poverty reduction and enhanced the livelihoods of all members.
“If credit unions are not able to contribute to member’s poverty reduction, and financial independence, then, we as a credit union movement would have been failing in our core mandate”, he said.
The Day is set aside to reflect on the Credit Union Movement, Its achievements, recognised the board works and share the experiences of members.
It was on the theme: “Empower your future financials with a credit union”.
In Africa, the first cooperative credit union was formed in Ghana precisely Jirapa in the Upper West Region in September 1955.
The Reverend John Mc Nulty, an Irish Canadian Priest of the Jirapa Diocese established the St. Joseph Cooperative Credit Union.