GRACCU Makes Significant Progress

GRACCU PixThe Ghana Revenue Authority Co-Operative Credit Union Limited (GRACCU), has held its seventh annual general meeting in Accra with a call on members to restrict their deposit withdrawals whiles servicing a loan.

It was held under the theme: “Financial independence: Our goal”.

Giving performance reports and financial statement of the Union, Godwin Aaron Monyo, Chairman of the Board of management of GRACCU said as at June 2013, membership of the union stood at 4,219 as against 2,744 during the same period in 2012.

He said GRACCU’s total assets grew from GH¢4.4million as at June 2011, to GH¢16,922, 480.

“The remarkable increase in the total assets and the rapid increase in membership are principally due to some prudent measures taken by the current management,” he said.

Mr Monyo mentioned one of the measures taken as the re-branding of the union to reflect the image of the Ghana Revenue Authority.

He said a customer-friendly loan policy that enables members to access funds for projects and other business ventures coupled with the streamlining of operations catapulted the fortunes of GRACCU.

Mr Monyo said one most significant single achievement the union chalked was the introduction of the auto loan scheme for members.

He said the union was able to procure15-seater mini buses from which150 were allocated to members.

In addition, he said a website has been developed to make it easy for members to access information relating to their shares and saving balances, and other business transactions. By Lawrence Markwei


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