{
  "id": 17788959,
  "title": "UEW-Co-Operative Credit Union reduce interest on loans to promote regular savings",
  "url": "https://urgent.news/2026/11/02/uew-co-operative-credit-union-reduce-interest-on-loans-to-promote",
  "topic": "world",
  "section": "World",
  "published": "2026-11-02T11:17:01.000Z",
  "source": {
    "name": "Adom Online",
    "slug": "adom-online",
    "url": "https://www.adomonline.com/uew-co-operative-credit-union-reduce-interest-on-loans-to-promote-regular-savings/"
  },
  "original_language": "en",
  "account": "The UEW Co-operative Credit Union is taking steps to enhance members' financial well-being through regular savings, affordable loans, and improved digital banking services. The institution, which has been operating for over 30 years at its newly commissioned building in Kwadaso Municipality, is committed to fostering a strong savings culture among its members while providing accessible financial support. Speaking about the credit union's mission, CEO Mrs. Christina Nelson emphasized that members are encouraged to save regularly, regardless of their income. \"We encourage our members to save, no matter how much the money is. Members can save as little as fifty Ghana cedis at the end of the month,\" she stated. The Credit Union offers diverse savings products, including regular savings, child savings accounts, fixed deposits, and fixed savings accounts, enabling members to secure their financial future in various ways. Additionally, the institution provides different loan products, such as regular loans, microloans for petty traders, agricultural loans for farmers, and guarantor loans. To make borrowing more affordable, the Credit Union has reduced its interest rates from 18% to 16% last year and further lowered them to 13.5% this year. These efforts are aimed at supporting members' financial needs. Mrs. Nelson mentioned that the Credit Union has also introduced a USSD platform and a web portal to enhance accessibility and convenience for members, allowing them to perform various transactions such as savings deposits, checking account balances, generating statements, and applying for loans without visiting the institution's offices. The credit union has qualified for licensing by the Bank of Ghana under the ongoing microfinance sector reforms, with licensing expected in December 2026. Mrs. Nelson expressed optimism about the credit union's performance this year, attributing its growth to members' confidence and continuous financial education.",
  "summary": "The UEW Co-operative Credit Union is intensifying efforts to improve members’ financial security through regular savings, affordable loans and digital banking services. The institution commissioned its new building at Tanoso in the Kwadaso Municipality, which has operated for over 30 years, committed to helping members develop a strong savings culture while providing accessible financial support…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "UEW Co-operative Credit Union reduces interest on loans to promote regular savings",
        "url": "https://urgent.news/2026/11/02/uew-co-operative-credit-union-reduces-interest-on-loans-to-promote",
        "published": "2026-11-02T14:24:37.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}