Chief Justice Kwasi Anin Yeboah has launched the Judicial Service Staff Cooperative Fund (JUSCOFund) with an advice to the fund managers to work with integrity.
“In the name of accountability, the Judicial Service Staff Association of Ghana (JUSAG) Executives must not dare to fail to manage the fund with integrity while upholding the laws of the cooperative at all times,” he said.
Chief Justice Yeboah noted that the fund was truly historic because it would bring respite to staff whenever they needed financial assistance.
He called for an efficient management of the contributions by investing in assets that would reap maximum gains while retaining a portion of inflows to meet the need of members.
One of the surest ways of meeting the needs of members should be by winning their confidence, he said, and urged the leadership to treat members fairly.
Chief Justice Yeboah said the cooperatives landscape had evolved, over the years, with the coming into force the Cooperative Act NLCD 252.
The JUSCOFund was an innovative feat to create and distribute wealth to all members and not for only selected few.
He was elated that the lending rate for members was 15 per cent, and said the fund would bring great relief to those who had to borrow from various financial institutions at a higher rate.
He observed that labour unions were settling with cooperatives as a means to provide financial support to members.
The Chief Juice tasked the Board of the fund to educate members on the bye laws to enable them to know their obligations, rights, and responsibilities.
He further entreated the leadership to ensure they did not lord their position over members, adding: “There should not be room for suspicion in the management of the fund.”
Mr Samuel Afotey Otu, the President, Judicial Service Staff Association of Ghana, said the Fund formed part of his campaign promise to the members to ensure their financial independence, which was the goal of every Ghanaian.
He, therefore, appealed to Members of the Bench to join, as the fund was not discriminatory.
Mrs Dorinda Smith Arthur, a Circuit Court Judge, who played an important role in the laws governing the cooperative, lauded JUSAG Executives for choosing a cooperative, which would afford members with low salaries to invest in the fund.
Mr Kwabena Yeboah Apreku, the Director of Cooperatives, presented a certificate to the Chief Justice to mark the commencement of the Fund.