As part of efforts to rope in the close to 60% unbanked population into the banking sector, Union Savings and Loans is optimistic of making significant strides in deposit mobilization through its Omni Saving Bonus campaign.
This is expected to provide a lasting solution to the low culture of saving, currently standing at 21% in Ghana.
According to the company, the current efforts by various financial institutions to encourage savings are short term solutions to the lack of a saving culture compared to their latest campaign.
The head of business at Union Savings and Loan, Dominic Donkoh said: “The campaign is all inclusive involving children and adults”.
The campaign will provide a convenient ways to save through the traditional savings box concept and reward depositors who make consistent long term savings.
The company is offering customers a 20% interest per annum for consistent savings during the campaign, with participants expected to start with an initial balance of GHC 200 and customers will be expected to grow their balance of GHC 50 every month.
The campaign is from the month of July through September 2015.
Meanwhile, the head of other financial services at the Bank of Ghana Raymond Amanfu has commended the company for developing what he called an innovative product.
By: Rabiu Alhassan/citifmonline.com/Ghana
