GRA Credit Union Excels

George Blankson - GRA Commissioner General interacting with some members of the Credit Union after the opening ceremony.

George Blankson – GRA Commissioner General interacting with some members of the Credit Union after the opening ceremony.

George Blankson, Commissioner General of the Ghana Revenue Authority (GRA), has commended the corporate credit union association of the authority for posting outstanding performance.

Speaking at an annual business training programme at Kasoa in the Central Region, Mr. Blankson said the loans and donations extended to staff of GRA through the scheme enabled them to pursue education and also take care of other family and personal needs.

The Corporate Credit Union Association, a staff savings scheme for staff of GRA, was established in 1997 under the erstwhile Internal Revenue Service with an initial membership of 80 but now has a membership of 4,742 and total asset of GH¢12 million.

Savings are deducted from the income of all GRA staff including the Commissioner General.

Chairman of the Credit Union, Godwin Monyo, attributed improvement in the performance of the union to the integration of the three main bodies under the GRA.

He said the training is to build the capacity of the committee members and put in place a proper succession plan.

Mr Monyo noted that apart from plans to increase the membership scope to attract all staff of the GRA, the union also aims to be the preferred credit union for all public sector workers.

“Our union is open to staff of sister agencies such as the Ministry of Finance, Controller and Accountant General’s Department and we want to develop to the status of the Public sector Credit Union.”

The Credit Union Chairman noted that there are plans to diversify the investment made with the contribution of members to improve profitability and also for prudent management of resources.

“For now we invest in financial instruments but we want to look at other alternatives,” said Mr. Monyo who said the union supports members to purchase property through high purchase, among others.

In 2012, GRA, in collaboration with the German Technical Co-operation and Ghana Community Network Systems Limited (GCNet), launched an initiative known as the Employee Wellbeing Programme to ensure the enhancement of the health status, social protection and financial wellbeing of workers and their dependants.

Dr Adriana Ignea, Coordinator of the Employee Wellness Programme, who attended the opening ceremony of the Credit Union, stressed the need for financial counseling of workers as part of efforts to get them to exercise financial discipline.

She lauded the performance of GRA Credit Union and urged them to ensure financial security of members.

 By Emelia Ennin Abbey