Golden Pride Savings and Loans Limited launched two years ago by the mine workers union, has entered the electronic banking space to make its products and services more accessible, convenient and cost effective to its customers.
The company, which launched the service at the weekend in Accra, with collaborative support from the HFC Bank, has therefore, leaped a giant step forward to its dream of attaining a universal banking status in record time.
Launching the service, the Board Chairman of the company, Mr Prince William Ankrah, who doubles as the General Secretary of the Ghana Mine workers Union, said the move was to enable Golden Pride to fulfil its corporate mission of bringing banking to the door steps of customers.
“We shall continue to be guided by the needs and aspirations of the banking and non-banking communities to create sustainable value for all.
”Our motivation is to be with the best, that is the market leaders and possibly beat the competition on permanent basis to ultimately become the preferred banking partner in Ghana.
Underscoring further the importance of electronic banking, the Managing Director of Golden Pride, Mr Johnson Boadi Asamoah said the new financial environment required differentiating products and services that provide increased choices, control security and accessibility.
He said the company e-bouquet of products includes the introduction of Automatic Teller Machines (ATMs), SMS Alerts, and Mobile Money Transfers with telecommunication giants like the MTN and Airtel.
Mr Boadi Asamoah said Golden pride was ready to innovate to reach potentially new markets and consumers, adding that, the company intended opening another branch in Kumasi this month.
The company as of December 2014 had mobilized a total of GH¢58 million as deposits, which Mr Boadi Asamoah described as unprecedented in the financial sector in Ghana.
Commending Golden pride for the initiative, Mr Kofi Asamoah, the Secretary General of the Ghana Trades Union Congress, said by that example, Unions were taking steps to not only directly contribute to the growth of the economy, but also reach out for the commanding heights of the economy.
”We urge union leaders to run their unions so effectively that gains made through that process would be invested in such business ventures,” he said, adding that, it would go a long to solve the unemployment situation in the country.
The Secretary General advised other unions to consider pooling resources together in the spirit of solidarity to set up membership-based ventures that would engender greater interest of workers.
Mr Charles Bonsu, the General Manager of HFC Bank, Ghana, said their collaboration with the company would also enable Golden Pride ATM Card-owners to use HFC ATMs as well as all other GH-Link ATMS nationwide.
“The new electronic banking solution has been specifically designed around the needs of customers of Golden pride savings and Loans Limited. One of the aims of this product is to reduce cash usage by customers and to improve personal security.