TEACHERS ADVISED TO JOIN CREDIT UNIONS (PAGE 17)

TEACHERS have been advised to join credit unions to ensure sound economic development before and after active service.
They have therefore been urged to reduce spending and cultivate the habit of saving, to enable them to generate funds for shelter and more useful things that will make them retire in dignity.
The General Manager of the Credit Union Association (CUA ), Mr Emmanuel Oduro Darko, gave the advise at the second annual general meeting of the Tema Metropolitan Teachers' Co-operative Credit Union in Tema at the weekend.
The meeting was on the theme, 'Dynamism, key to sustainable growth of teachers' credit union'.
Mr Oduro Darko commended teachers who had taken up the challenge.
The union, which started with 100 teachers, currently has 1,500 members drawn from schools in the metropolis.
Mr Oduro Darko said teachers had demonstrated how united they could be towards their economic development.
Mr Oduro Darko noted that the Credit Union Movement was confronted with some challenges due to the current change in competitive environment as a result of the increasing number of competitors .
He said commercial banks with large infrastructure, internal systems and capital were entering the micro finance field and were capable of expanding rapidly.
The General Manager asked the Board and Management of the union to increase its shares and introduce new products and services, based on the needs of members .
The Manager of the Tema Teachers Co-operative Union, Mr Stanley Attor, said the image of the union had improved consistently over the period under review.
He said many teaching and non-teaching personnel in educational institutions had joined the union while teachers in the Dangme East and West had requested to become members .
Mr Attor observed that there was an increased level of awareness among teachers of their rights and responsibilties and also the benefits of accumulating monies for self sufficiency.
Giving the history of the Teachers Co-operative Union of Tema, the Vice Chairman, Miss Georgina Arthur, said membership mobilisation was carried mainly through a fora created by the Ghana National Association of Teachers (GNAT).
She said the union owed its gratitude to Mr Robert Addotey, who is now a board member, for initiating the move towards the formation of the union.
Special messages of commendation were delivered on behalf of the General Secretary of GNAT, Mrs Irene Duncan-Adanusa, and the Tema Metropolitan Director of Education, Mrs Victoria Opoku.