Mfantesman District Teachers Credit Union makes progress

Saltpond (C/R) April 14, GNA - The Mfantseman District Teachers Credit Union Association mobilised 2.5 billion cedis savings as at December 2004 compared to 864,529,752 cedis in July 2002.

The Association also granted 1.8 billion cedis loans in 2004. Briefing the Ghana News Agency at Saltpond on Tuesday, the Chairman of the Board of Directors, Mr Thomas Abakah, said the Association had made giant strides since the Board took office in July 2002. He said membership increased from 947 in 2002 to 1,200 in 2004, adding that, it had acquired the means to computerise the Association's records.

The Board Chairman commended Mr James Ehuren, Manager of the Bank and his staff for their dedication and praised the Board Members for their co-operation and hard work.

He said that the annual general meeting of the Association had to be delayed when auditors detected that the ledger was not up to date, adding that, some records dating as far back as 1997 had not been properly entered.

Mr Abakah thanked the Central Regional Credit Union Association for loaning a competent auditor to update the records and assured members that the annual general meeting would be held as soon as work on the books had been completed.