Credit Union members advised to repay loans directly to the union

Hohoe, March 14, GNA - Mr Leonard Apatey, Board Chairman of the Hohoe District Teachers Co-operative Credit Union, has advised its members to repay loans taken from the union directly to it rather than through the Controller and Accountant General's Department.
     He said whereas the Credit Union charges three percent on its loans repaid directly to it, the department charges one percent commission in addition to the three percent interest.Mr Apatey, who was addressing the seventh annual general meeting of the union at Hohoe at the week-end, said the Board was exploring avenues of collaboration with the Ghana Commercial Bank and rural banks to effect loan deductions for a more manageable fee than what pertains to the AG's Department.            
14 March 07