The Board Chairman of the Agona District Worker’s Co-operative Credit Union (ADWCCU), Mr. Wisdom Yaw Badjessah has said delay in payment of loans contracted by members of Credit Unions remains one of the major challenges facing the Unions, as it adversely affect their smooth operations.
He made this revelation at the Annual General Meeting of the Union at Agona Swedru on the theme: “Serving Members in the midst of Covid-19 Pandemic.”
He also mentioned irregular savings and frequent withdrawals as some of the challenges confronting Credit Unions, especially in this period of the Corona Virus pandemic.
Mr. Badjessah who holds a Bachelor’s Degree in Sociology and Political Science from the University of Ghana and a Master’s Degree in International Social Work and Community Development from the University of East London however assured that despite these challenges, ADWCCU has put in place pragmatic measure to mitigate these challenges to make the Union stay competitive and remain viable in the financial business.
Formed in 2004 by one Mr. Alexander Oteng, the then Agona West Municipal Co-operative Officer and one lawyer Francis Kwame Odei with the aim of mobilizing savings and offering financial assistance to its contributers in times of need, the Society was later registered with the Register Generals in March 2011 and became a member of the Credit Union Association (CUA) the same year.
As part of it’s achievement, the Union is currently constructing an ultra-modern office complex which is about eighty five percent complete to be used by December this year, according to the Board Chairman.