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25.11.2008 Regional News

Mustard Seed commissions new office in Cape Coast


The Mustard Seed Co-operative Credit Union, one of the fastest growing credit unions in the Central Region, has commissioned an ultra-modern office at Nanabakrom near the Cape Coast Polytechnic (C-Poly), to assist people in the area have access to loans to expand their businesses.

Speaking at a ceremony to commission the office, the Board Chairman of the credit union, Mr. Ben Kojo Otoo, said the construction of the office would create an enabling environment for the union to improve on its activities, to assist contributors to expand their various business ventures.

According to him, the commissioning of the new office would enable them serve the public more efficiently and effectively, to help them better their livelihoods.

He disclosed that the union was working hard to develop into a community bank in five years.

Speaking at the same function, the Manager of the credit union, Alfred Abban, disclosed that the union hoped to establish another ultra-modern office complex in the region within five years, to expand its operations.

He said the union had implemented a savings policy, where contributors would be required to make a daily savings of Gp20, as a way of eradicating poverty in the region.

He has therefore advised the general public to get involved in the savings scheme, to be able to access loans.

He also advised beneficiaries of the loans to use the money for the intended purposes, so as to help improve their livelihoods.

The Mustard Seed Co-operative Credit Union was instituted two years ago in Cape Coast, and currently has a total assets of over GH¢4 billion.

It has a total membership of over 1,000, and has disbursed over GH¢2 billion to its contributors.

It currently has offices in four communities in the Central Region, and hopes to expand to the other parts of the region in five years.

Attention: Picture shows Elder John Assifuah (middle), a contributor cutting the tape to commission the building. Looking on is Mr Otoo, the board chairman of the union.