The Ghana Credit Union Association

The plaque on the door reads

 

and so we have arrived at the Ghanaian Credit Union Association training centre. 

 

 In Ghana when you meet with a credit union the following will occur, first introductions - my Ghanaian name is Yah Joan.  This means that I am female and born on a Thursday, truth is I was born on a Wednesday but then so was my partner Heidi.  Our Canadian names are hard to pronounce so sometimes we are called by our Ghanaian names and having both of us called the same thing doesn't help with communication, so I have moved to Thursday. Besides its pronounced yahhhhhh Joan and it makes me feel like everyone thinks I'm kind of cool :)

 

Next you will share a drink usually water but maybe some tea or milo, this is followed by the question 'and what is your mission here today'.  Its a good question.  If forces you to stop and think about what you goals are for the day and then verbally communicate that to a group of people.  Today our mission is to work with the staff and regional directors of CUA to delve into some of the key similarities between the Irish, Canadian and Ghanaian credit union systems.

Representatives from the Irish, Ghanaian and Canadian Credit Union Associations sharing a laugh together

 

It is very clean on early in the day that we all appear to be on the same track.  The Ghanaian and Irish system have both been struggling over the last couple of years, the Ghanaian system do to the lack of  laws and regulations, the Irish system do the global financial crisis that hit them hard.  That been said there are more similarities than difficulties. 

 

Samuel Adu-Panin of CUA explains the Ghanaian Credit Union system 

 

In Ghana there is still a large gap between the formal and the informal financial markets.  The banks are not utilised by the vast majority of the people.  The informal sector (money lenders and Susu collectors) is very exploitative and risky, and can carry prohibitively high interest rates.  Credit unions are filling that gap. 

 

Today proves to me once again that together we are stronger.

 

We ended the day with a briefing from the regional managers from the area that we are traveling to.  Heidi and I were informed that we will be traveling to a remote CU that has been asking for coaches for some time.  However they were not willing to send anyone because it was to rough.  But we were assured that new tire have been purchased for the truck and they had it serviced so we should be good to go.  We will see what tomorrow will bring :)