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Credit Union Joins In The Celebration Of The 100th International Co-Operative Day.

The Ghana CO- operatives Council in collaboration with the Department of Co-operatives and the International Cooperative Alliance celebrated the 100th Anniversary of the existence of the Cooperative Movement worldwide. In Ghana, the occasion was marked by the various Co – operatives with a float through some principal streets in Accra and held a mini durbar at the Accra Metropolitan Assembly Conference Hall.

Co-operatives have been recognized as a force for the growth of the socio-economic livelihood and thus the theme for this year’s celebration is “Co-Operatives are building a better world”, this tells us that we are not just building a better country or society but a world.

 Dr. Bernard B.B. Bingab (the Board Chairman for the Ghana Cooperative Credit Unions Association – CUA) was the Chairman for the occasion.

The various Co-operatives movement in Ghana such as the Credit Unions, Susu Collectors, Transport Cooperatives, Ghana Cooperative Marketing Association, Fashion design, Distilleries, PENCO, BACCSOD, Accra Onion Association, and Kuapa Cocoa among others were there to grace the occasion and we were given the opportunity to read fraternal messages.

Mr. Albert Akwasi Boakye Secretary General for Ghana Co-operatives Council in his speech mentioned that Cooperatives are built on openness, unity, and equality which helps in promoting the socio-economic development in our country.

He also said Cooperatives could be a means to help reduce the challenges in our society by creating job opportunities, empowering individuals, and supporting individuals at low rates of interest.

The sector minister’s speech was read by Mr. Ernest Berko, A Deputy Director at the Ministry of Employment and Labour Relations who urged Cooperatives to use this opportunity to showcase their work and make the necessary adjustment to make the Cooperative Network beneficial to its members and Ghana as a whole and to promote the smooth running of the council

He also reflected on the challenges of the Cooperative Laws which was established in 1968 and suggested it be reformed to be aligned with the modern century. This will help create avenues for progress.

Mr. Apreko Yeboah the Acting Registrar of the Department of Co-operatives in his remark also mentioned the involvement of the youth in the Co-operative sector. The youth will be the ones ruling the future and it is important to introduce them to the Cooperatives now because as times pass the leaders now will be forced to pass on the baton to the youth.

Mr. Cyprian K.A Basing, the General Manager of the Ghana Co-Operative Credit Unions Association (CUA) in a message to mark the centenary celebration in Accra, stated that he believes it is impossible to create wealth without having the habit of saving.  Credit Unions have been identified as a saving tool for human development. Individuals need to have the desire to grow both socially and economically and do not need to wait until they have enough before they start to save rather, they should set some percentage of their income aside even if its little for there is a saying that little drops of water make a mighty ocean, so one will never know how far they can go with those little savings they do.

He added that individuals are realizing the importance and need for Credit Union, and this has caused people and organizations to embrace Credit Unions because they believe it is a convenient, safe, and effective method to save.

He said the Credit Union has embraced branding in several forms including putting up Modern infrastructures as well been advertising on both the digital and traditional media, and this is a sign of growth and sustainability.

Today over 250 million individuals choose Credit Unions because they have the interest of people first, they invest to meet people’s financial goals and make individuals’ goals a reality.

Mr. Cyprian K.A Basing ended by urging Co-Operatives in other fields to consider saving and investing in the Credit Union as it is the financial wing of the Co-operatives.

In his closing remarks, the Chairman urged the Cooperatives to tell their story, build their Cooperation and support each other.

Visit our photo gallery For Images of the event.

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