Mr Samuel K. Annor, Central Regional Manager of the Credit Union Association,(CUA) has said non-payment of loans is the major problem currently hindering the performance of credit unions.He said loan delinquency had resulted in the union running into huge losses thus reducing profit margins.Mr Annor made this known at the Seventh Biennial General Meeting of the Agona Swedru Methodist Cooperative Credit Union at Swedru, at the weekend.He said CUA would soon come out with strategies that would assist credit union officers to punish loan defaulters as part of its efforts to recover loans.Mr Annor, therefore, appealed to loan defaulters to pay them back to avoid embarrassment.Mr E. K. Effah, Outgoing Chairman of the Board of Directors of the Union, said the union recorded GHȼ 187,052.20 as profit for the three-year period under review.He said GHȼ 150,509 was paid as interest on dividends to members of the union.Mr Effah said the shares increased by 11 per cent from GHȼ 128,185.50 to GHȼ 139,886, but said that it was below CUA’s share capital specification.He said the Union granted loans in the areas of trading, payment of fees, medical bills, land acquisition, adding, this increased from GHȼ 2,148,776.80 to GHȼ 2,381,271.39.The Chairman said the union had made an investment amounting to GHȼ 591,573.07 in CUA fixed deposit, treasury bills and bank savings.Mr Effah said the union had secured a code from the Controller and Accountant-General's Department to the enable its officers to deduct loans at source from government employees who secure loans from the Union.The Union elected a new Board for a four-year term.Mr Godsent Nkum , an engineer, was elected the new Chairman with Madam Agnes Acquah, becoming the Vice Chairman, Mr D.V. Essel - secretary, Madam Mercy Asante- treasurer and Mr Jacob Kwame Amuah as member.