North Tema Cooperative Credit Union records 20% loan delinquency rate
The North Tema Cooperative Credit Union Limited (NTCCU) recorded a 20% loan delinquency rate, which is above the industry benchmark of 3%. This prompted management to introduce stricter loan recovery measures, including mandatory collateral for selected loan facilities, integration with the Credit Reference Bureau to screen prospective borrowers, and legal action against persistent loan defaulters. Ms Anthea Ohene Mayne, Chairperson of the Board of Directors, disclosed this at the union's 37th Annual General Meeting (AGM) held in Tema. She stated, "It means that many of us who are taking loans are not repaying them. The cooperative is not happy with this delinquency rate."
Ms Mayne said the union aims to reduce the delinquency rate to 10% through enhanced credit assessment, closer loan monitoring, and stricter recovery measures. Despite the challenge, the cooperative recorded strong financial growth in 2025. Membership grew by 30.2%, from 18,900 in 2024 to 24,604 in 2025. Total assets increased by 28.6% from GH¢111.29 million to GH¢143.08 million, while members' deposits rose by 27.5% from GH¢85.65 million to GH¢109.23 million. Share capital also recorded significant growth of 83.89% to GH¢7.7 million. However, the Board noted that members' shares account for only 5.4% of total assets, which is below the regulatory requirement of 10%.
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The North Tema Cooperative Credit Union (NTCCU) is grappling with a significant loan delinquency rate, far exceeding industry standards. This
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