The head of Adepa Teachers' Credit Union is telling members to stop treating loans like free money and actually save instead. Dorothy Adentwi-Hayford went off at their anniversary event about how people keep taking out loans without any plan to pay them back, which is tanking the whole system for everyone else. The union is resorting to texts, house calls, and even lawsuits to chase down the deadbeats.
Despite the loan drama, their numbers look pretty solid. Savings jumped 62 percent to over 56 million cedis, and total assets grew by more than half to hit 67 million. They went from 96 employees to 125 and opened ten branches across Ghana.
CEO Joseph Acquaye mentioned they hire based on work ethic rather than grades, giving high school grads a shot if they can handle basic reading and writing. The union started as a small teacher-led thing 55 years ago and has turned into a legit financial institution with locations in Koforidua, Kasoa, and other spots around the country.
Despite the loan drama, their numbers look pretty solid. Savings jumped 62 percent to over 56 million cedis, and total assets grew by more than half to hit 67 million. They went from 96 employees to 125 and opened ten branches across Ghana.
CEO Joseph Acquaye mentioned they hire based on work ethic rather than grades, giving high school grads a shot if they can handle basic reading and writing. The union started as a small teacher-led thing 55 years ago and has turned into a legit financial institution with locations in Koforidua, Kasoa, and other spots around the country.
