Queen Of Peace Credit Union Inaugurates New Office Building

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By Cecil Mensah

The Queen of Peace Credit Union, has inaugurated an office complex at Madina in the La-nkwantang Municipal Assembly of the Greater Accra to better serve its clients.

Theunion after thirty three years of operating as a credit union in a kindergarten classroom block within the church premise, now has an ultra-modern banking hall.

The credit union, acquired its license from the Department of Co-operatives to operationalize its activities in the area.

The union since then, has joined the Credit Union Association (CUA) of Ghana, the body that regulates the operations of all co-operative credit
unions in the country.

The union The Herald learnt, has deposited a statutory amount with the CUA to safeguard the investments of customers in case of any eventuality in the country.

Speaking at the inauguration and dedication ceremonyof the ultra-modern office building of the credit union in Madina, Mr. Bertrand Zielley, the Manager of the credit union, said the union was established in 1982 with the motive to collect Susu among Parishners of the church.

He explained that, the credit union which started in a modest place in the church, now has a customer base of three thousand and five hundred (3, 500) across the various Catholic churches in the La-Nkwatang Municipal Assembly.

He was quick to add that, their customers base spans from non-Catholic members also in the municipality over the years.

According to him, from a humble beginning from a kindergarten classroom block; the credit union on August 8, 2014, started the construction of the ultra-modern office in a prime area of the municipality.

He noted the credit union together with its Board of Directors, chaired by Mr. George Bannor, intends to rent the remaining office space to prospective tenants to augment the branch drive of the union.

He enumerated that hitherto, one of the major challenges that confronted the union was the operation of the manual system but, the transition from manual to electronic in 2012 has made accounts of the unionsmooth hence the success chalked today.

He said in view of the license acquired as a cooperative credit union, the union has revised its mode of operation and has embarked on a membership drive that has led to other sister church members and ordinary members in Ashalley Botwe, Haatso, Oyarifa and its environs, yearning to be part of the fund.

He said, every Sunday the Union details officers to the various churches in the above mentioned areas to collect contributions from customers.

He stressed that, loan defaults on part of customers, has been a challenge over the years, but since the Union engaged the services of UT Debt Collection Company limited to reclaim debts from defaulting members; the situation has been brought under control.

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