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Mr Charles Kwaku Boateng (right), the Ashanti Regional Director of Co-operative, swearing in IMC members.

St Philips Co-operative receives certificate of operation

The St Philips Co-operative Credit Union (SPCCU) at Obuasi has been certified by the Ghana Co-operate Credit Union Association (CUA) to begin full scale operation.

The CUA said the credit union, which had been functioning for eight years without formal certification, had now met the requirements of the association and was qualified to be issued with the licence to legalise its activities.

It advised the SPCCU to cultivate the habit of savings as a means of addressing economic hardship.

The Ashanti Regional Director of Co-operatives, Mr Charles Kwaku Boateng, told members at this year’s annual general meeting (AGM) at Obuasi that the union was to provide them with financial and technical assistance to support their businesses.

It is also to ensure fairness and justice in the administration of funds in the credit unions across the country.

He commended the shareholders for their immense contributions and  charged the executive to act professionally in order to attract more people outside the church into the society.

Mr Boateng urged members to pay their loans on time so that other stakeholders could benefit from the scheme.

Interim management committee

Under the Co-operative Societies Decree No. 252 of 1968, an interim management committee (IMC), made up of 11 members was inaugurated to steer the affairs of the union, until elections are held in four years.

The President of the IMC, Mrs Winfred Ankomah, assured the CUA that the committee would ensure that the visions of the society were realised and thanked members for the trust reposed in the executive.

She  expressed appreciation to the congregation for the immense contribution towards the formation of the society and commended Mr Henry Patrick Gyimah, the past District Co-operative Officer of the Obuasi Municipal Assembly, for his insightful consultancy.

Established in 2006 by some executive members of the St Phillip Catholic Church at Tutuka in Obuasi, the SPCCU came into fruition following pressure from some members of the congregation.

The executive met the then Parish Priest, Reverend Father Matthew Tuffour Amoah, on the proposal which was accepted.

The society, which started with 15 shareholders, now boasts 486 members.

 

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