The Ghana Association of Credit Unions Managers is holding its week long 20th Educational and Annual Conference at its ultra-modern Workshop and Training Centre (Cutrac), at Kasoa in the Central Region. Managers and Chief Executive Officers of credit unions across the country converged to be equipped with knowledge and skills to improve their work out-put.
It also creates a platform for members to brainstorm on challenges facing unions and the best ways to resolve them. This year’s conference is under the theme: “Stability and growth in the financial sector, the way forward for co-operative credit unions”.
Although GHACUM,has been in existence for twenty years, this year is its first convergence as legally registered Association with the department of co-operatives and its constitution will soon be adopted as the working document of the Association.
The President of GHACUM, Mr, Ali Saraju, in his welcome address noted that this year’s theme reflects the associations’ visions even in the midst of the current challenges in the financial sector. “Irrespective of what is happening both in the financial sector in general and the co-operative movement in particular, our professional mandates as managers is to stabilize our credit unions and grow them for the benefit of our cherished members and stakeholders”.
Mr. Stephen Asiamah, the Acting Chief Executive Officer of Ghana Co-operative Credit Unions Association (CUA) Limited, in his address, mentioned that the since the mid-1990s the emphasis placed on financial sector stability analysis and macro prudential analysis have been growing throughout the world. Therefore financial stability can be understood as a situation where the financial sector functions efficiently and with no undesirable impacts on customers/members, state finances or the microeconomic environment.
Mr. Asiamah concluded by emphasizing the need for union members to comply with the rules and regulations governing the management of financial co-operatives.
Some Managers shared their experiences on how the educational and annual conference has improve the operations of the credit union movement in Ghana and their various co-operatives.