The Anglican Bishop of Kumasi, Right Reverend Dr Daniel Yinkah Sarfo, on Monday, inaugurated the Saint Anne’s Cooperative Credit Union in Kumasi.
Rev Sarfo said the credit unions offered one of the surest ways to better their economic situations and called on members of the church to take advantage of it to improve their finances.
Set up by the St Anne’s Anglican Church at Ashtown, Kumasi, it would help contributors to grow their businesses and assist them in times of
financial need.
Rt Rev Dr Yinkah Sarfo commended the leadership of the church for the initiative and said he was hopeful that it would be managed well
to bring more benefits to the members.
Mr Kofi Nsiah Amponsah, Ashanti Regional Director of the Department of Cooperatives, expressed concern about the way some micro financial
institutions were cheating people through huge interest charges on loans.
He noted that the credit union provides the opportunity for contributors to receive credit facilities without much difficulty and encouraged all, to join.
Mr Anthony Aidoo, Regional Chairman of the Cooperative Credit Association (CUA), said the region has about 37 credit unions with a total membership of about 85,000.
The unions, he said, had brought enormous financial relief and urged the Board to design innovative strategies to attract and retain its
members.
Mr George Kwaku Kumi, the Board Chairman, said they would embark on massive education campaign to expand the membership and invited the
congregation to save with it to improve their lives.