1st National Savings and Loans extends services to the people of Bawku(Tuesday, March 13, 2012 )

First National Savings and Loans Company Limited opens branch in Bawku Story: Benjamin Xornam Glover, Bawku First National Savings and Loans, (FNSL), Company Limited has opened its branch in Bawku in the Upper East Region with a promise to provide easy and convenient financial services which has the tendency of transforming the lives of its clients. Speaking at the inauguration of the FNSL, the Chief Executive Officer of the FNSL, Dr. Papa Kwesi Nduom stated that one major problem that accounts for the unacceptable levels of poverty in the northern part of the country is the lack of access to credit. He said the vision of FNSL is to reverse that trend hence a deliberate policy to extend branches of the institution to areas such as Tamale, Yendi, Bolagana, Wa, and Bawku. “We want to take first national to everywhere in Ghana where people need banking service, even where people are running away from. Where others don’t want to go, we want to go there because there are people in there who need help. We want people to know that the northern part of Ghana needs development but without money, it will be impossible to develop”, he said Dr. Nduom indicated that FNSL aims at becoming "The People's Bank" where its customers such as traders, farmers, students, workers and small scale business entrepreneurs everywhere in Ghana can lay hands of money to trade He said since it started operations, the institution has opened 47 branches located inall the regions of Ghana adding that more branches will be opened to serve its clients. He announced that plans were far advanced to obtained a license from the Bank of Ghana to transform FNSL into a universal bank in fulfillment of the vision to become "the People's Bank". Dr. Nduom thanked the customers for their loyalty to the institution since it commenced business and also commended the staff for their commitment and dedication that has since the company grow to what it is today. The Credit Manager of FNSL, Mr. Jacob Gaikpah said the institution within a short period of five years have disbursed loans totaling GH C 65 million to its clients adding that within a year alone in Bawku, FNSL has granted loans totaling GH c 2 million to its customers. Mr. Gaikpah said by the end of this year, FNSL intend to expand its loan portfolio to GH c 150 million thereby making credit available to more Ghanaians. He said the company deposit products included current accounts, savings account, fixed deposit accounts and susu accounts. Other loan products are payroll based lending, commercial loans, microfinance, farmer based loans, a special product named "Wo Daakye" savings account, local money transfer as well as international money transfer via Western Union, Money gram and Megamaull. The Branch Manager for Bawku, Mr. George Anaba, acknowledged some key clients of the company for their loyalty and said the doors of the bank are always opened to the people all with the aim of helping then enjoy the many benefits from a wholly Ghanaian financial institution. Mohamed Mutala Ibrahim, a client commended the company for extending is services to the doorstep of the people of Bawku. He said their presence in the area brought a lot of benefit to the people in the municipality. He however appealed to management of the company to develop a package for contractors in order to facilitate their work. -End-