Significant efforts are being made each and every day by banks to reduce the 60% unbanked population in the financial sector. To make this dream come alive, Union Savings and Loans (Union S&L) has rolled out an innovative way to tackle the problem by introducing the Omni Savings Bonus campaign.
Currently, the low culture of savings in Ghana stands at 21% and with the Omni Savings Bonus campaign, Union S&L expects to provide a lasting solution.
Attempts by other financial institutions to find a solution to the problem has been on short term and it is on the back of this that Union S&L has stepped in to provide a long lasting solution. 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 campaign is all inclusive involving children and adults and this was a revelation by Dominic Donkoh, who is the head of business at Union S&L. To make things more exciting, the company is giving every customer who consistently saves with them during the campaign a 20% interest per annum.
Participants are expected to start with an initial balance of GHC 200 and customers will be expected to grow their balance of GHC 50 every month during the campaign which starts on July through September 2015.
The ceremony was also graced by Mr. Raymond Amanfu, the head of other financial services at the Bank of Ghana. He lauded Union S&L for such an intervention. “Innovation comes out from a very stiff competition... I would like to urge everyone here to take key interest in this product as it offers and opportunity for us to develop our saving culture”, he said.
<<Print>>