Koforidua, Dec. 18, GNA- Ghanaians have been urged to be bold to tell the truth about affairs in their organisations to ensure transparency and accountability.
Mr Paul Osei-Mensah, former General Secretary of the Ghana National Association of Teachers (GNAT), said such a culture in all aspects of national life would promote development.
Speaking at the third Annual General Meeting of the New Juabeng Municipal Teachers Credit Union at Koforidua on Friday, he called on the executives of the Union to exhibit honesty, good management and to serve the interest of the members.
Mr Osei-Mensah suggested that membership of the Union should be extended to embrace other workers apart from teachers. In a speech read on behalf of the Chairman of the Board of Directors, Mr Israel Ben Lassey, he said the total funds of the Union increased from 366 million cedis to 444 million cedis from July 2003 to June 2004.
He said the Union granted 925 million cedis as loans to members and generated an interest of 422.4 million cedis over the same period as against 150.4 million cedis the previous year.
The Board declared a dividend of 3,000 cedis per share on February 2, 2004, he said adding that, as a result of the improvement in the money market, the Board had decided to reduce the lending rate from 26 per cent to 22 per cent.
Mr Lassey said the Union had acquired a 15-acre land for development into a Teacher's Village at Koforidua. He disclosed that a plot of land, including documentation, would cost 6.5 million cedis.
The Eastern Regional Secretary of the Ghana National Association of Teachers (GNAT), Mr Simpson Kofi Aduamoah, called on teachers who had not yet joined the Union to do so to enable them to get financial assistance.
The chairman for the occasion, Mr John Pratt of the Ghana Education Service, urged the executive of the Union to ensure transparent management and asked the members to join the National Health Insurance Scheme.