Banewsgh.com can confrim that the management of(GILFC), has ordered for a three-week suspension of payments with immediate effect.
The move is to allow the welfare club to streamline its operations in order to provide valuable services to its members across Ghana.
Speaking to banewsgh.com in Nkoranza after a general meeting of all branch chairmen, the Founder, Ms Monica Afiriyie, popularly called Aunte Korkor said, management has henceforth decided to pay members’ benefits and entitlements into their bank accounts.
Therefore, the break will allow all members nationwide to submit their account numbers to their various branches into which payments shall be made upon resumption.
This she said, shall bring to an end the current practice of paying members’ benefits over-the-counter.
Ms Afriyie also denied rumours of closure by the Bank of Ghana. She however, confirmed to banewsgh.com that the KMA Ciruit Court in Kumasi threw out a case filed against GILFC by the Bank Of Ghana after 8 months of Legal battle in which the central bank claimed the fun club was operating as a microfinance institution.
According to her, the current delay in payment of members’ benefits is as a result of their banker’s (First Allied Savings & Loan Ltd) inability to honour huge cheques drawn over the counter which has occasioned bit by bit withdrawals resulting in few people getting paid per day.
She continued to say that with the current arrangement, benefits shall be paid into bank accounts of individual beneficiaries and this will curb similar future occurrences.
Ms Afiriyie further advised members not to panic since the move to reorganize is in their best interest.
Meanwhile, our sources indicate that some members of GILFC from all branches in Ghana will on Thursday July, 2 troop to the Kumasi offices of First Allied Savings & Loan LTD, to demand their benefits and vent their frustrations about the bank’s unwillingness to release funds for the club to pay their benefits.
The God Is Love Fun Club has its headquarters at Breman in Kumasi with branches in Nkoranza, Kintampo, Techiman, Berekum and Sunyani.