That, he said, “had financially empowered our members in various endeavours, including housing, school fees, business capital and  transport.”

Speaking on the  theme: “A decade of financial empowerment to staff,” Mr Anane said the Credit Union, which now has total assets of GH¢2,381,036.15, also generated total deposit of GH¢1,851,461.93 in 2012 as against GH¢1,058,683.7 generated in 2011.

He further said that membership of the KATH credit union had been increasing over the years, saying from the initial membership of 106 in 2002, the  number now stands at 1,925, including 1,205 females, 694 males and 26 group members.

According to Mr Anane, the liquid investment also yielded a total of GH¢1,236,579.01 last year.

He said the board had over the past decade made serious efforts to invest in non-risk ventures in various financial institutions, including Treasury Bills, S.I.C. Fixed Deposit, Gold Coast Securities Ltd, MFund-Data Bank and  Global Asses Fixed Deposits, among others.

 “The Board is happy that as we celebrate the 10th anniversary, we have evidence to show that indeed we have brought joy and happiness to most of our members, and today most of us have our own houses, vehicles and businesses. This has tremendously relieved hospital management of its meager resources which could have gone to staff by way of salary advance,” he noted.

The Vice Chairman also announced that management was planning to admit spouses of members into the union and also introduce a youth saving scheme, where members could save towards the future of their children.

In a speech read on his behalf, the Chief Executive Officer of the KATH, Prof. Ohene Adjei, paid tribute to the pioneering members of the credit union, saying that “from a humble beginning, the KATH CCU has grown in leaps and bounds to become one of the leading and model credit unions not only in the Ashanti Region, but the country as a whole.”

He noted that the financial interventions of the KATH CCU had helped management to devote the bulk of the hospital’s resources to the provision of clinical services, thus safeguarding the standard of specialist health services to the public.

“Whilst we celebrate this occasion, I wish to implore you to kindly join me in applauding the founder members for their foresight and sacrifices, which have contributed to the continued growth of the union over the years,” he noted.

Prof. Ohene Adjei also said the KATH CCU had made a positive impact on the operations of the hospital, saying it has indirectly improved clinical services.

“What we should not forget is that a contented work force is a productive work force. By providing affordable and customer friendly financial services for close to 2,000 members of staff who are members of the union, the KATH CCU has done a yeoman’s job in giving members the peace of mind to concentrate on their core job of caring for the sick,” Prof. Ohene Adjei appreciated.

He advised management of the credit union “to be prudent in the management of the affairs of union so that it will grow from strength to strength in the years ahead.”

He said it was equally important for the regional branch of the Credit Union Association to intensify its supervisory role on the union to ensure that it remains on the trajectory of growth to become one of the best in Africa.

Story by George Ernest Asare