UEW Co-operative Credit Union branch manager Encourages members to adopt good savings skills to enable them access credit facilities at a moderate but competitive interest rate
The University of Education Winneba Co-operative Credit Union last Tuesday opened their new office at Abura, Cape Coast to close gab between customers and administration communication. This is necessary to cut down distance from cape coast and it’s environs from coming to their main office at Winneba.
Speaking to Ghanaweb brand reporter DjQwequ, Mr. Jacob Frederick Danquah who is the branch manager for the newly opened office outline some of the difficulties their office goes through but still provides good services to their customers.
Below are some of their difficulties.
1. Some of the customers lie to us about their place of stay which makes it difficult to meet them as and when necessary
2. Payment of savings which aid the union to give out loans are at times not paid on time which makes it difficult when processing their loans.
Most importantly the last point
3. Economics crises has made it hard for people to pay their loan at the agreed time. According to him, Ghc10,000 can be of good assistance to their customers when given during some years back but it’s nothing to them now. And this has increased the money needed by them which the union has no option then to give them.
Mr. J F Danquah also add that the inflation rates and interest rates are higher now thus making it hard for the unions to operate. He used the opportunity to appeal to the government to assist the financial institutions to operate smoothly.
“Financial institutions gives loan to Ghanaians to help their various works and therefore, the government should help us (Financial Institutions) to get more assistance to give out more loans”
He also encouraged members to adopt good savings skills to enable them access credit facilities at a moderate but competitive interest rate