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18.09.2005 General News

Savings, basis of human development CUA boss

By GNA

Kpando, (V/R) Sept. 18, GNA - Mr. Paul Yaw Kotobridja, National Chairman of Credit Union Association (CUA), on Saturday underscored the importance of savings as a tool for human development. He said the individual could not reduce poverty or create wealth without cultivating the habit of savings irrespective of ones income to grow socially and economically.

Mr. Kotobridja, who was speaking at the Golden Jubilee celebration of the Union at Kpando said wealth creation begins with the development of the desire and willingness to safe to create wealth for ones purpose in life.

He expressed happiness about how union members defined all odds and economic uncertainties, which under normal conditions could have undermined their savings pattern. Mr Kotobridja said the growth in the union activities in the area of savings, loans, membership and the number of credit unions had exceeded all expectations with respect to the country's current socio-economic status. He said that was as a result of the poor and the less fortunate in the society discovering their potentials in the credit union system with the realization that they could have convenient place to save their pesewas and eventually grow big out of it. " Church leaders, small-scale entrepreneurs, artisans and salary earners were embracing the credit union concept as a safe, reliable and effective method to create wealth for themselves and for future generations," he said.

Mr. Kotobridja however, deplored the inability of members to reach out to their rural folks about the union's gospel and therefore called on them to extend the opportunity to people still in the dark about the union's activities. Mr. Roland Louis Fanusah, Host Chairman for the anniversary called for the need to pool resources for mutual help in times of need as the dictates of the country's economy does not allow one to use one's monthly salary on such needs of the time and continue to survive comfortably.

He called on heads of institutions in the district to convince their subordinates to join the union and cut off their "umbilical cord" from the navel of the shylock moneylenders in the town.

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