Credit Unions worldwide celebrated International Credit Union Day on Saturday, October 19th, 2024, under the theme “One World through Co-operative Finance” to highlight the significant role financial cooperatives play in improving the livelihoods of their members globally.
This year marks the 76th observance of the day, which began in 1948, to raise awareness about the value of credit unions and encourage more active member participation.
The event serves as an opportunity to reflect on the credit union movement’s history, celebrate its achievements, and share the experiences of members.
In Ghana, Credit Unions gathered in Cape Coast for a week-long celebration, culminating in a grand event.
The Chief Executive Officer of the Ghana Co-operative Credit Unions Association (CUA), Mr. Cyprian Basing, commended the hard work and dedication of credit unions across the country, noting the positive impact they have made on their members’ lives.
He expressed that in an era where global challenges such as economic inequality, environmental sustainability, and social justice dominate the world, the co-operative finance model offers a unique solution by prioritizing people over the province.
Mr. Basing mentioned “At its core, co-operative finance is about inclusion. It is about providing a platform for everyone, regardless of their financial background, to access the resources they need to improve their lives.”
“Global credit unions will promote financial literacy, entrepreneurship, and sustainable development, empowering individuals and communities to take charge of their future,” he continued.
Mr. Basing further emphasized that credit unions are lifelines for families and communities during times of crisis. In Ghana, they have played a vital role in building financial resilience.
Mr. Basing notes that the spirit of cooperation has been instrumental in enabling the country to recover from challenges such as the global pandemic and remain a key driver of financial empowerment.
Speaking at the event, Osabarima Dr. Kwesi Atta II, the Oguaamanhen, acknowledged the achievements of the Ghana Co-operative Credit Unions Association.
He however urged its leadership to adopt modern technology to enhance its operations.
“Make sure whatever you have done in the past, using our traditional methods, change and embody the technological aspects of what we face now,” he said.
The Ghana Co-operative Credit Unions Association (CUA) has made significant strides in expanding cooperative finance in the country.
With over 495 credit unions serving more than 1.7 million members, CUA has helped members collectively save, access affordable loans, and secure their financial futures.
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Source: Anthony Sasu Ayisadu/ATLFMNEWS
