Story: Tim Dzamboe, Ho
THE Ho District Teachers Co-operative Credit Union made a net surplus of GH¢20,822 in its transactions last financial year despite huge investments in various portfolios that were intended to improve on the lives of members.
In 2006, the union declared a net surplus of GH¢18,193.
The union — which has a total membership of 2,481 with teachers forming the majority, and others being health workers, traders, hoteliers, bakers, among others — has been making steady progress.
The union achieved the feat after drastically reducing expenditure on security, administration and organisation in the previous year.
The Chairman of the Board of Directors of the union, Mr Stephen Dzorkpata, announced this in a report he delivered at the union’s 12th annual general meeting at Ho.
He said the union floated a house bond of GH¢10 last year for the construction of an office complex, adding that 30 building plots had also been bought for members to enable them to settle conveniently before and after retirement.
Mr Dzorkpata expressed regret that the transfer of names of workers from the Integrated Personal Payroll Database 1 (IPPD-1) to IPPD-2, had created several difficulties for teachers, such as the omission of inputs, unacceptable deductions and the delay in remittances.
In an address, the General Manager of Credit Union Association (CUA), Mr Robert Kofi Ngizah, urged members to win their colleagues to join the union, adding that they should pay back loans promptly to enable the management to introduce new products.
Mr Ngizah said his outfit had resolved to work towards strengthening credit unions in the country, adding that it had also decided to pass a law to regulate savings of credit unions.
Speaking on the National Health Insurance Scheme, the Regional Manager of the Pharmacy Council, Mr Chris Quao, said the consumption of steroids created diseases for the consumer, adding that drug abuse could be the overdose or wrong usage of particular drugs.
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