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

The management of the Bole Community Co-operative Credit Union has indicated its resolve to transform the Union into a model institution that would offer credit unions a new narrative.

It is resolved to provide” diverse financial and advisory services to all members with excellence.” says Mr . Dramani Notomah Adams, Board Chairman.

In a report by the management Board during the 24th Annual General Meeting at Mum and Dad Lodge, Mr Adams informed that the success of the industry was crucial because it would improve the livelihood of the people as they continue to save with them.

Mr Adams informed that the Credit Union was expanding with members in Bole, Tuna, Tinga and Damongo .

He said a look at the financials of the Credit Union showed a continuous growth in profit, liquidity, membership and other operational areas and encouraged the Board and Management to continue with the good policies, programmes and apply same to all members that brought about their annual growth.

He encouraged Members to play their parts well by attending meetings to contribute their views for the growth of the Union.

He said it was also the responsibility of members to patronize the products of the Union and urged members to continue to increase their shares, save regularly and access the loans and pay on time to ensure capital adequacy of the Union.

Mr Adams, Board Chairman of the Union welcomed Co-operators and explained the financial performance of the Union.

He said the Union has recorded a significant growth in the assets size from GHS 28,901,675.53 in 2023 to GHS 52,064,471.55 in 2024 constituting 80.14 per cent growth.

Savings, he said grew from GHS 22,239,387.10 in 2023 to GHS 41,508,105.31 in 2024 representing 86.64 % increment.

A net Surplus increased from GHS 1,757,043.82 in 2023 to GHS 2,785,856.11 in 2024 showing a 58.55% increment.

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

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 thereon.

The meeting which was to review their performance and plan ahead of coming years was held on the theme “BOCCCU , a Reliable , Trusted and Dependable Family”.

In attendance were; Mr Kamal Deen who represented the Member of Parliament for Bole- Bamboi constituency, CUA Regional Chairman , Bolewura representative among others 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