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19.12.2006 Business & Finance

Birim South Teachers Credit Union makes great strides

By gna
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The Birim South District Teachers Co-operative Credit Union generated a total income of 387. 3 million cedis as at June 2006 as against 361.5 million cedis recorded in June 2005.

It advanced 1.7 billion cedis loan to its members over the same period as against 1.1 billion cedis in June 2005.

Mr Alfred Kuranchie, the chairman of the union disclosed this at the seventh Annual General Meeting (AGM) of the union at Akyem Oda.

He said the unions' total assets went up from 1.6 billion cedis in June 2005 to 2.3 billion cedis in the year under review.

He said deposits went up from 1.1 billion cedis last year to 1.7 billion cedis this year with the reserve of the union going up to 2.3 billion cedis this year as against 1.6 billion cedis in 2005.

Mr Kuranchie said membership of the union now stood at 1003, adding that it intends to involve all the teachers in the district.

He said the union continued to rub shoulders with others in the Eastern Region in terms of membership and operation.

Mr Kuranchie said management would continue to educate teachers to join the union and to abide by the policies put in place to further strengthen its operations.

Mr Alfred Enyan, the immediate past chairman of the union advised members to guard against falsifying their documents to contract loans.

He advised members who guarantee loans to ensure that the applicant had filled the forms completely before appending their signature.

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