Swedru Teachers Co-operative Credit Union gets electronic savings, withdrawal system

The Swedru Teachers Co-operative Credit Union (STCCU) has designed a new system to assist customers to shift from manual to electronic savings and withdrawal.

Mr James Yamoah, Manager of the Union, who made this known to reporters at Agona Swedru on Friday, said with the facility, customers who are mostly teachers could make deposit at any banking institutions and Credit Union offices and then inform the Swedru Credit Union through text massage for the necessary entries into their accounts.

The Manager said with the assistance from the Credit Union Association (CUA) head office in Accra, all Credit Unions have been networked and members or customers could make withdrawals at any Credit Union office throughout the country.

He said the electronic savings system which would begin operations in June this year, would go a long way in reducing paper work and also minimize the burden some businessmen face in sending their daily sales to the Credit Union.

Mr Yamoah said the union has designed new products, including granting more credit facilities to customers and other salary workers to expand their businesses, adding that the union has put up a new office with a 200 seater modern conference hall.

The Manager added that the edifice would be inaugurated during the Annual General Meeting of the Union in April this year, which would also coincide with the celebration its 40th Anniversary.

Mr Yamoah said plans were far advanced to open an agency at Agona Nsaba, the district capital of the newly established Agona East, to stop teachers in the area from travelling to Agona Swedru to transact business.