Bole Community Co-operative Credit Union holds 24th Annual General Meeting.

The management of the Bole Community Co-operative Credit Union has on Saturday 31 May 2025 holds its 24th Annual General Meeting at Mom and Dad conference hall in Bole under the theme “BOCCCU, A Reliable, Trusted and Dependable Family”.

Speaking at the meeting chief Dramani Natomah Adams, the Board Chairman of the Bole Community Cooperative Credit Union (BOCCCU), mentioned that the Annual General Meeting is to account to them on the activities of the Credit Union over the year.

The Chairman stated that this AGM is 2024 and it is a requirement by their Credit Union laws and the DOC that every year the board and directors are supposed to account for their stewardship to members of the Union for them to know how the Union is fairing.

The following were presented as the 2024 AGM highlights by the Chairman at the meeting;

1. Net surplus
2024- 2,785,856.11
2023- 1,757,043.82
Representing 58.55% increment.

2. Asset size
2024- 52,064,471.55
2023- 28,901,675.53

Representing 80.14% increment
3. Member shares
2024- 3,659,477.41
2023- 2,637,849.92
Representing 38.73% increment

4. Loans disbursed
26,872,768.51
5. Loan portfolio 26,079,450.11

6. Staff population

Males- 20
Females-39
Total=59

7. Member savings.

2024- 41,508,105.31
2023- 22,239,387.10
Representing 86.64% increment

8. Minimum share requirement agreed upon – Ghs 300 for all members and so old members who didn’t have shares upto this would have to do a top-up.

9. Minimum share required for any amount of loan is on a pro-rata basis. the more the amount of loan, the more the share amount required.

10. Agreed dividend to be computed as 17% per share and recapitalized.

The Association also acquired a piece of land in Tinga and Daboya,to be developed as a branch banking premise and a land for the Bole office is still one the processes and works is ongoing at site.

The meeting, among other things considered and adopted the statement of accounts of the Union for the year ended together with the reports of the Supervisory Committee, Manager and Auditor’s there on.

In attendance were; Mr.Kamal Deen,the MP Rep, CUA Regional Chairman, Bolewura representative who were appreciative of the good work done by the Board Members.

Members of the Union were drawn from all four branches to observe discussions of the 24th Annual General Meeting of the Union.

Source:Diwura Abdul Fataw