By: Robert Ayanful

Emmanuel Co-operative Credit Union in Agona Swedru has introduced new products such as Loan Protection Plan and Risk Management for Savings as a sort of insurance packages to protect the savings of its members as well as loans granted by the Union.
As at the moment, The Union has offer loans to about 15,000 of its members, mostly market women, traders and small scale enterpreneurs.
This was revealed by the Manager of the Union, Mr. Charles Addobaw-Graham in an interview with
According to him, the Union has also introduced ?collateral system? to members who apply for huge loans, to protect the Union from going bankrupt, in case of default.
He disclosed that so far, about three hundred of its members are in loan default, but stressed that the Union is still in talk with them as to the best way to repay the loans.
As to whether the Union is considering instituting legal action against those defaulters, the Manager said that would be a last resort, after all attempts have failed.
He hinted that the Union organizes meetings periodically with its members and educate them on best business practices and best way of repaying their loans.
This, he said, has helped create confidence and cordial relationship between the Union and the members.


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