Managers of Credit Unions have been advised to utilise technology to provide efficient and accessible services to their members, aiming to expand membership.

The President of the Ghana Association of Co-Operative Credit Union Managers, Kennedy Yeboah, who made the call, cautioned against the unpredictable nature of the technological landscape, entreating management to ensure they safeguard their systems against

Addressing the 27th Annual and Educational Conference for the association, held in Ho, he expressed optimism that these initiatives would boost the growth of the Unions, urging them to safeguard against fraud, cybersecurity among others.

“Our members increasingly expect financial services to be convenient, accessible, secure and available when they need them. The question before us is therefore no longer whether credit unions should embrace digital transformation but how quickly, responsibly and effectively can we do so?”

“But digital transformation also introduces new risks. Cybersecurity, data protection, fraud, system resilience and digital literacy must therefore receive the same level of strategic focus as the technology itself.”

“I therefore call on credit union leaders to view technology not just as an IT function, but as a crucial strategic business priority,” he said.

He also advised managers to concentrate on building credit unions that are “strong, resilient, innovative, member-focused and sustainable” and urged CEOs, boards and managers to work together harmoniously to achieve their goals.

Mr Yeboah also emphasised the importance of ongoing human capacity development to equip staff with up-to-date skills needed to navigate the modern financial sector and improve services.

“We must continually enhance our knowledge, skills and professional standards. We must keep investing in ourselves and in the next generation of credit union leaders,” he said.

The National Board Chairman of the Ghana Co-operative Credit Union Associations, Dr Samuel Otu-Nyarko, encouraged members to adhere to the Bank of Ghana's regulatory framework and to leverage available opportunities.

He acknowledged that compliance may pose challenges but also create opportunities to improve governance, operational resilience, and public confidence.

“As your Apex institution, CUA remains committed to engaging constructively with the Bank of Ghana, the Department of Cooperatives and other stakeholders to ensure that the interests of our member credit unions are effectively represented while fostering a regulatory environment that promotes safe, sound and sustainable growth.”

“The Board firmly believes that compliance should not be seen as an administrative burden but as an investment in institutional credibility and long-term sustainability,” he stressed.

He further indicated that the Board aims to “strengthen governance systems, improve enterprise risk management, promote digital transformation, build institutional capacity, improve financial sustainability, and deepen member confidence in the credit union brand.”

“These priorities reflect our commitment to ensuring that CUA remains a strong, responsive and forward-looking Apex institution capable of supporting member credit unions in an increasingly competitive financial landscape,” he added.

The Chief Executive Officer of the Ghana Credit Unions Association, Cyprian Basing, revealed that the association has about 500 members, serving approximately 2.89 million individuals.

He also mentioned that the Ghana Credit Union Movement holds total assets of GH₵8.23 billion, with a loan portfolio of GhC3.50 billion, used for financing businesses, homes, education, agricultural expansion, among other purposes.

He called for strategic positioning to consolidate these gains by investing in service enhancement and adopting stringent management and governance policies.

“These figures are impressive, but they also place a greater responsibility on us all. As our movement grows in size, it must also strengthen. As our assets increase, our governance must improve. As our membership expands, the quality of our services must also improve.”

“As technology transforms financial services, we must ensure that every credit union-large or small—is equipped to compete confidently in the digital era. Growth without innovation will not sustain us. Innovation without discipline will not protect us. And transformation without strong leadership will not endure,” he explained.