Adabraka credit unions makes more profit

The union declared a 15-per cent dividend payment to the contributors.

The vice chairman pointed out that the union would continue on its membership drive in the coming year and also undertake more projects that would positively affect the lives of its members and the community in general.

The Registrar of Cooperatives at the Cooperatives Department, Mr Jeremiah Coleman, who delivered the keynote address, said credit unions were the surest way to develop an individual.

According to him, through the formation of such unions, members could be supported to develop their potential and improve their businesses, adding that if taken seriously, credit unions could boost income generating activities and generate employment.

“It is for the poor in the society and can provide the much needed opportunity for self determination and empowerment,” Mr Coleman said.

He noted that the draft cooperatives bill, if passed into law, would regulate the industry which was now receiving a lot of attention and further consolidate the gains made in the industry.

He urged credit unions to engage in social activities in the communities in which they existed to make it attractive to a broader mass of the people to appreciate the need to join.

Story: Justice Baidoo