New Fadama Credit Union to Launch Housing Scheme

By Kingsley Asare

The management of the New Fadama Cooperative Credit Union (NEFCCU), has announced plans to introduce a housing scheme for retirees.

The scheme, according to the company, would be part of its retirement products in which members would secure houses after retirement.

Mr Emmanuel Ofosu Boateng, Chairman of NEFCCU, who disclosed the move at the commissioning of a new office complex at New Fadama for the union, said the housing scheme would enable the members, mostly in the informal sector, to conveniently invest in housing for their retirement.

"Our aim is to ensure that all members have houses to live in by the time they retire from active work," he said.

In addition, he explained that the scheme was part of the union's plans to expand into the housing sector.

The office facility, built with building investment shares from members of the union, is described as a milestone in the expansion drive of the union.

Prior to the building of the new facility, the union, which started as an endowment fund in 2003, operated from an office in the Church of Pentecost at New Fadama.

Mr Kennedy Amoako, Manager of the Union, in his presentation, noted that the relocation of the office outside the church premises is to enable more people to access the services of the union.

He assured the members of their commitment in ensuring transparency and good governance in the management of the funds of the union.

As contributing members, he reminded them that the company belonged to them, and therefore should exercise their rights at all times and offer effective collaboration with the management.

"As managers, we shall continue to be innovative by introducing more products and services, and by leveraging on modern technology to enhance our service delivery," he said.

Rev Joshua Yirenkyi Smart, Head Pastor at the Fadama Pentecost Church Worship Centre, who chaired the ceremony, commended the members of the union for their commitment to the progress of the group.

He lauded the active participation of the members in the sale of the building shares that ensured the speedy mobilisation of fund for the office building project.

Reminding them of the objective of the union towards promoting their welfare and protecting them against financial difficulties, he urged them to remain committed and contribute more for their benefit.

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