18th AGM: Wa Workers Co-operative Credit Union records a substantial Membership growth of 11% – BOD Chairperson
The Board Chairperson of the Wa Workers Co-operative Credit Union Madam Vivian Nyekanga has revealed that the Credit Union recorded an increase in its membership from 7,273 in 2022 to 7,479 in the 2023 reporting year which represents 11% growth rate in membership.
She also mentioned that, Members’ shares also saw a hike from GH¢1,061,840.00 in 2022 to GH¢1,271,271.74 in 2023 representing 19.7%. Savings for the period according to her scaled up with an increase from GH¢8, 116,660.21 in 2022 to GH¢10,331,363.92 representing 27.20%.
Madam Vivian adds that, the Credit Union has made progress in value by increasing its assets value to GH¢12,776,917.87 in 2023 as compared to the 2022 fiscal year that reported assets value of GH¢10,041,731.31 signaling an assets growth rate of 27.24%.
The Board Chairperson whiles addressing members of the Wa Workers Co-operative Credit Union at the Wa Technical Institute on August 3, 2024 during the Union’s 18th Annual General Meeting noted that, the Union carried out several activities within the 2023 fiscal year that will inure to the benefit and growth of the Union.
She mentioned capacity building of Staff and some Board Members, procurement of new Toyota Pick Up to facilitate transportation needs of the Union, procurement of Generator to complement the power needs of the office as well as retooling the office space of Wa Workers Co-operative Credit Union to befits its status.
Madam Vivian furthered that, the Union in order to enhance its operations and strengthen its internal control system, procured a new banking software (Tembo) and has since put it into operations.
Meanwhile, Former BOD Chairperson of the Wa Workers Co-operative Credit Union who doubles as the Ex-Officio, Mrs. Joyce Mpopii Mbiba while highlighting the significance of this year’s AGM theme dubbed ” A family that binds together, grows together” charged members of the Union to be honest in their dealings with the credit union stressing that, the Credit Union belongs to each and every member.
She charged the members to all recognise their key roles and perform same judiciously towards the growth of the Union. “Each and everyone of us is a member of the credit union and we all have our roles to play so far as the growth of the credit union is concerned” Mrs Joyce stated.
She urged members that accessed credit facilities from the credit Union to honour their repayment obligations within the stipulated period.
Madam Joyce also seized the opportunity and appealed to members whose’ shares are yet to meet the minimum requirements of GH¢250.00 to quickly adjust their shares balance for the union to continue to serve the legitimate interest of its members.
By: Saeed Fatawu|myghanawatch.com|2024|0248265593|