Browsing by Author "Mensah, Frank Asirifi"

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    Assessment of the contributions and challenges of credit union in Ghana: A case study of Techiman area Teachers’ Credit Union
    (AUGUST, 2015) Mensah, Frank Asirifi
    The study investigated the contribution and challenges of credit unions in Ghana, using Techiman Area Teachers credit union as a case study. The objectives of the study include; finding out the various products of Techiman Area Teachers credit union. Also finding the trend of contribution of Techiman Area Teachers credit union, again assessing the benefits of the Techiman area teachers credit union to members and finally to identify the challenges facing the members of the credit union. The study was descriptive using both primary and secondary data. Data was collected through questionnaires and analysed using SPSS analysis package. The study identified the following as products of the credit unions; Susu, saving and loans, funeral loans, salary loans among others. The product with the largest patronage was savings and loans. The study found the following as the benefit members received from the credit union; receiving loans for land or building, loans to purchase vehicle, loans as working capital, etc. The study went further to look various challenges members faced in assessing facility from the credit union. These challenges include high rate, bureaucracy, favouratism, duration to qualify for a facility, etc. The finding of the study shows that credit base of Techiman area teachers‘ credit union has been increasing every year, favouratism and the frequency in getting more funds from the credit union among others are challenges members goes through in accessing facility from the credit union. It recommended that members use the benefits they receive for productive activities and therefore more funds should be given so as to help them pay the principal and interest and also to improve their livelihood in the Techiman municipality.