Wa Community Co-operative Credit Union Expands To Wechiau

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Economics Union Branch
Economics Union Branch

The Wa Co-operative Credit Union has earmarked 1.0 million Ghana Cedis to be disbursed as loans to the expected 200 registered members in the Wa West District this year.

The Union was also mobilising GH¢170,000.00 from the 200 registered members, Mr John K. Seidu, Board Chairman of the WACCU has said.

Mr Seidu made this known during the opening of the WACCU Branch in Wechiau in the Wa West District on Wednesday to serve as a poverty fighting tool to enhance the economic livelihoods of the people.

“Wa West District capital, Wechiau, despite its huge economic potential, has no formidable financial institution of its own after the defunct GM Bank”, Mr Seidu said.

He said it was therefore a glaring demonstration of commitment towards the development of the Wechiau Community that the WACCU opened its branch to extend operations to help facilitate financial support to the people to boost business transactions.

He urged the people in the district to join WACCU and patronise its products by respecting and honouring part of their obligations in the bargaining agreements with them to serve them to make progress in their livelihoods.

Mr Seidu said the credit union system whereby people with a common bond come together to save their money and take loans to develop or improve themselves was ideal for a place like Wechiau where poverty was said to be endemic.

The Board Chairman assured the people in the district that WACCU was a reliable society that was well structured, organised, member-focused, and managed its resources prudently.

Mr Seidu appealed to potential members in Wechiau and its environs to embrace WACCU, which could turn their fortunes round if they chose to do good business with it.

?“We are professional in doing business with all our partners and we deliver on our promise. We provide business solutions to rural poverty to help our members grow in the rural communities economically,” he said.

“We want to assure the chiefs and people of Wechiau that WACCU has come to stay and will cater for the interest of the people taking into consideration the delivery of its products and services”, he added.

The Wechiau Naa, Naa Imoru Nandong Gomah, Paramount Chief of the Wechiau Traditional Area, appealed to the people especially traders and farmers to take advantage of the WACCU to improve their livelihoods.

He expressed gratitude to the management of WACCU for coming to the aid of the people who for no cause of theirs had no financial institution to support them.

He tasked the chiefs to inform their people of the presence of WACCU in the district and encourage them to open accounts with it to enable them to expand their businesses.

Two women traders who spoke to the GNA said hitherto, they did not have any financial institution to save their monies and were subjected to thievery and burgling at home.

They said they would now patronise the services of WACCU to avoid the daily attacks and robbery experienced on the roads during business transactions.

WACCU started in Wa in 1960 and now has a total membership of about 16,300 with a total asset size of GH¢32.6.

It is also the largest Credit Union in Northern Ghana in terms of membership and assets and has opened agencies in the region including Dorimon, Daffiama and Issa.

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