The Management of the Controller and Accountant Generals Employees Co-Operative Credit Union (CAGECCU), has introduced three new services to its members to create more saving avenues for them and make their lives better.
The new products include; the Kiddy Savings, Planning for Pension Plus, and the Fixed Deposit, was launched at the Union’s 20th annual general meeting in Accra.
The Union also launched its 2017/2018 annual report which was on the theme Credit Union: “Actualising Your Dreams.”
Mr Reuben Nunoo Kwadey, the Manager of CAGECCU, explained that the Kiddy Savings account, aimed at assisting members to provide enough resources for their children’s education in the future, the Planning for Pension Plus, also give members the opportunity to save towards their pension.
He said the Planning for Pension, gives members the opportunity to discuss with management what they would be using their pension money for and advised accordingly on how much their contributions for the month should be to enable them achieve their retirement plans.
Mr Kwadey said the Fixed Deposit, gives members an opportunity to higher yields and it could also earn them additional one per cent of the Treasury bill rate and urged members to patronise the services to expand their capital base.
Mr Stephen Asiamah, the Acting Chief Executive Officer of Credit Union Association of Ghana (CAU), commended management and members of the CAGECCU for the new services and for working together towards their growth and sustainability.
He appealed to members to commit towards building the credit union by honouring all their obligations in terms of shares, regular savings, and timely repayment of their loans and urged management to provide members with quality service to enhance their operation.
Mr Asiamah said the financial shake up by the Bank of Ghana notwithstanding should not create panic among members, saying “our business as cooperatives is distinct and unique.
“Our shareholders are our members as such we believe in what we do and are committed in doing that. I entreat all members to continue to build trust in the credit unions and make it even more relevant in meeting today’s challenging needs”.
He said the CUA would continue to champion the cause of credit unions by helping to remove barriers that obstructed their smooth running and asked that members believed in the leadership and collaborate with them to strengthen the credit union movement.
