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 22nd Annual General Meeting at the Bole Senior High School dinning hall, 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 therefore called on organizations to come on board and allow their members enjoy the benefits the Union offered.
Mr Moro Salaam Ziida, Chairman of the Supervisory Committee, 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 11,853,527.49 in 2021 to GHS 18,066,225.06 in 2022 constituting 52.41 per cent growth.
Savings, he said grew from GHS 9,017,883.3 in 2021 to GHS13,789,798.68 in 2022 .
On membership growth, the Chairman said members grew from 4,970 in 2021 to 5,979 marginally for 2022.
A net Surplus of GHS 937,425 .11was also made covering the period January to December 2022.
The Association also acquired a piece of land in Tuna ,to be developed as a branch banking premise and a land for the Bole office has completed documentation processes and works 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 thereon.
The meeting also confirmed the Minutes of the 2021 Annual General Meeting.
The meeting which was to review their performance and plan ahead of coming years was held on the theme” Together we defy all odds in the midst of global economic challenges”.
In attendance were; Mr Yahaya Sulemana Bole District Director of Education, Assistant Headmistress of Bole Senior High School in- charge of administration, 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 22nd Annual General Meeting of the Union.
Source: yagbonradioonline
