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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/8492

Title: Prospects and challenges of credit union operations in Ghana: A Case Study of selected credit unions in the Techiman Municipality
Authors: Ahmed, Mohammed
Issue Date: 6-Apr-2016
Abstract: The study investigated the prospects and challenges of credit unions in Ghana, using three selected credit unions in the Techiman Municipality as a case study. The study was descriptive using both primary and secondary data. Data was collected through questionnaires and analyzed using the SPSS analysis package. The study identified the following as products of the credit unions: Susu, Savings and loans, Funeral loans, Salary accounts and Salary loans, fixed deposit, and overdraft. The product with the largest patronage in the industry is the savings products. The study found the following as constituting the effect of the product on their performance: an increase in customer base, an increase in capitalization, an increase in asset base and increase in investments. The study found a number of prospects of credit unions in the Techiman Municipality. This includes: a shift from deposit savings to share savings, which suggests that they are able to raise more equity to increase their capitalization; a shift to market rates on loans, which means that they are becoming a competitive and sustainable alternative financing industry; a shift to capitalization of earnings and repayment-based credit analysis which has the tendency to reduce the rate of default by clients; a shift to market-based, results-oriented business planning which can guarantee some returns for investors; and an improved financial information reporting control and evaluation. Challenges identified included lack of awareness, restricted coverage, functional weakness and loan delinquency. The study recommended the need for the creation of greater awareness of the industry and its products to enhance patronage. The study also suggested that there is the need for credit unions to adopt and ensure strict compliance to credit policies to ensure the reduction of loan delinquencies.
Description: A Thesis submitted to the School of Business, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Master of Business Administration (Finance Option), 2015
URI: http://hdl.handle.net/123456789/8492
Appears in Collections:College of Arts and Social Sciences

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