De-Graft Memorial Methodist Co-operative Credit Union Support Members

De-Graft Memorial Methodist Co-operative Credit Union in Kumasi gave out a total of GH¢58,987 as loans to its members last year. Mr Abraham Owusu-Ansah, Board Chairman of the credit union, who disclosed this, said the figure represented an increase over the GH¢9,800 loans the Union gave out the previous year. He was speaking at the first Annual General Meeting (AGM) of the union in Kumasi on Sunday. Mr Owusu-Ansah was delighted that as a result of the loans many members, especially petty traders had been able to expand their businesses and urged them to be prompt in paying back the loans for the progress of the Union. The Board Chairman announced that, the Union recorded GH¢1,227 as profit while its interest on investment was GH¢141. He said members’ savings increased from GH¢20,000 in 2006 to GH¢52,120 in 2007, while the total asset of the Union as of 2007 stood at GH¢62,279. Mr Owusu-Ansah challenged Christians to embrace the Credit Union concept to improve their standard of living.