General Manager of Ebenezer (A-G) Co-Operative credit Union; Mr Hayford Ofosuhene says banking sector occurences last year has eroded many gains as far as Ghanaians’ willingness to save with financial institutions is concerned.
Mr. Ofosuhene who was speaking with journalists during the Union’s 15th annual General meeting and commissioning of their new office building hinted that people are now hesitating to save with banking institutions.
He also lamented seriously about the developing culture of panic withdrawals among Ghanaians. He explained that the speed with which customers rush to withdraw their monies at the least rumor is a sign that many are yet to understand banking in Ghana. He appealed to customers to stop the panic behavior towards the banks since that is what is actually collapsing the banks.
The General Manager explained that his outfit plans to give back to customers so that their businesses and lives would be enriched. “To this end, 70% of monies obtained would be given out as loans to customers” he said.
He also revealed that the Credit Union will also undertake Corporate Social Responsibility Programmes to improve livelihoods within their catchment areas. He cited a 40-seater ICT centre being built at Fumesua to service the entire community.
He encouraged parents to open savings accounts for their kids and by so doing teach them the culture of saving.
What do you think about this piece? Share your comment in the comment thread and share the story using the social media buttons above. You may reach the editor on 0249579664. Thank you.