ACCRA, Ghana—Two members of the World Council of Credit Unions’ board have made history by becoming the first WOCCU board members to ever visit Ghana, the West African nation that is home to nearly 600 credit unions.
Visiting the country were WOCCU Board Chair Steve Stapp, who is also president of Unitus Community Credit Union in Oregon, and George Ototo, who is also a director with the Kenya Union of Savings & Credit Co-operatives (KUSCCO). Both men held meetings with the Ghana Co-Operative Credit Union Association and its general manager, Emmanuel Coffie.
GCCUA is one of five African credit union associations that is a direct member of the World Council.
WOCCU reported GCCUA staff had numerous questions for Stapp and Ototo on subjects that included board governance and election best practices, how to grow the credit union sector, and when WOCCU officials could return to Ghana.
The WOCCU board members also toured the GCCUA Training Center, which is comprised of training and meeting rooms, and a housing complex for attendees. GGCUA has completed training for more than 900 individuals in the credit union sector there, including employees and board members, WOCCU reported.
Other CUs Visited
During their trip to Ghana, Stapp and Ototo also visited:
- Queen of the Peace Cooperative Credit Union
- Controller and Accountant General Cooperative
- Hydro Cooperative Credit Union, which included a tour of the Akosombro Dam that provides 60% of the power in Ghana
According to WOCCU, despite difficulties in the banking sector that includes extremely tight liquidity, the two board members found the credit unions of Ghana to be thriving and growing—with a dedication to providing vital services for their communities and nation.
‘Significant Role’
“Credit unions are playing a significant role in the economy of Ghana as they connect individuals to the financial sector and provide a means for them to access capital and save for the future,” said Stapp. “Ghana Co-Operative Credit Union Association plays an important role in supporting the sector through training, advocacy, and providing connectivity to the rest of the world.”