ENSURE RAPID PASSAGE OF CREDIT BILL (PAGE 39)

Story: Emmanuel Modey, Hohoe

THE government has been urged to ensure the rapid passage of the Credit Union Bill, which has been on the drawing board for the past nine years.
That, he said, would make the credit unions legal entities, since they now operated under the Co-operative Society Act.
Under the Co-operative Society Act, at least two people can come together to form a society while in the case of credit unions, the number must be at least 100.
The Volta Regional Co-operative Officer, Mr Alex Adu-Donkor, made the call at the eighth annual general meeting of the Hohoe District Teachers Co-operative Credit Union Limited at Hohoe.
He said due to the long delay in the passage of the bill, the members wanted a legislative instrument instead.
Mr Adu-Donkor commended the union for its progressive stance over the years and implored them to raise their shareholdings to make the union stronger.
In his report, the Chairman of the Board of Directors of the union, Mr Leonard Apatey, said activities of the Controller and Accountant General’s Department (CAGD) and government policies during the past year had been unfavourable.