4.1 HISTORY OF THE CREDIT UNION
The Garu-Tempane Teachers’ Co-operative Credit Union Limited was formed on 1st January, 1997 with not less than twelve (12) members. George Alem who was later elected as the first BOD chairman at an Annual General Meeting (A.G.M). As a new and small Credit Union, it had no office of its own. A small and rented store was used in the interim for official business. A
Book keeper in the person of Mr. Peter Mbom of blessed memory was appointed to manage the Union. The Union got affiliated to Ghana Co-operative Credit Union Association (CUA) Limited on 18th April, 2001 with affiliation Number: CUA/244. It got registered with Department of Co-operatives (DOC) on 9th March, 2003 with DOC Registered Number: UER/NR/64. With hardwork, dedication and commitment to duty by the chairman and the Book keeper, and with support and co-operation from both leadership and membership, the Union started undergoing steady growth and development. After rendering active service for six (6) years for the Union, Mr. George Alem handed over power through elections to Mr. Eric Ayamba as the second BOD Chairman who also ran the affairs of the Union for six (6) years. During Mr. Eric Ayamba’s regime, a plot of land was bought and a small office was put up as the Union office in 2009. As a result of growth in membership and asset base, an Assistant Book Keeper, in the person of Miss Ellen Sarko Daara, (now Mrs.) was appointed
Through hardwork, commitment and dedication to duty by both Management and Leadership, the third BOD, under the chairmanship of Mr. Sinore Salifu expanded the Union membership, asset base and infrastructure. The old office underwent a complete re-construction and renovation to give it a face-lift to befit the status of a financial institution. At the same period, a large conference hall was also constructed. The first Book Keeper (Manager), Mr. Peter Mbom who passed to glory in January, 2017 went on compulsory retirement in November, 2014. He was succeeded by no other person than his deputy, Mad. Ellen Sarko Daara in December, 2014. She is the current manager working very hard with the current BOD. A Union that Started with about twelve (12) founding members can today boast of not less than Two Thousand Two Hundred (2200) members. The Union intends to expand its membership through creation of two branches at Woriyanga and Basyonde, but to start with Woriyanga first to assess its performance. VISION STATEMENT
The Garu-Tempane Teachers’ Co-operative Credit Union Ltd. is aco-operative financial institution seeking to become the leading non-financial institution in the Upper East Region by providing financial supports to its Members and the community as a whole. MISSION STATEMENT
The Garu-Tempane Teachers’ Co-operative Credit Union Limited; made up of the Teachers and people of Garu-Tempane community and its environs, mobilizes deposits, provides credit and other financial services and supports members for their growth and development.
