Methodist Church Denies Ownership of Credit Union

The Bethel Methodist Church in Takoradi has denied ownership of Bethel Methodist Co-operative Credit Union, which operates on its premises.

The church also indicated that the said credit union had not swindled anyone who is a member of the union as alleged by some customers of the union about three weeks ago.

The irate customers, who gathered at the forecourt of the closed offices of the credit union about three weeks ago, alleged that they had been swindled by the union.

A press release issued by the church and signed by the Superintendent Minister, Very Rev. Isaac Sam and Ishmael Wilson, Society Steward, stated that the credit union was formed by the Men’s fellowship and others who had their contributions with the union.

“As with all co-operative credit unions, the Bethel Methodist Church is owned by its shareholders and the Bethel Methodist Church is a shareholder,” it stated.

According to the statement, after a recent internal audit of the union, it was rumoured that funds of the union had been embezzled and the development triggered panic withdrawal.

“Some contributors threatened the lives of the workers of the union and this led to the temporary closure of the offices of the union for some days,” the statement said.

It added that the board members, together with the leadership of the church, convened a shareholders’ meeting during which the financial position of the union was explained to all stakeholders.

“The leadership of the church, together with the board, gave a firm assurance to all members, who in spite of the explanation given, wanted to withdraw their monies to call at the office of the union to go through the processes for their monies,” it indicated.

“Those who still wanted to be part of the union were also asked to be patient for the final audit report after which the credit union will be restructured under new management to give better services to its members.”