Abosomankotere Credit Union makes surplus of GH¢2,776,165.45

By Nana Osei Kyeretwie/Stephenson, GNA
Sunyani, May 06, GNA - The Abosomankotere Co-operative Credit Union (AbCCU) Limited with its headquarters in Techiman made a 'total surplus' of GH¢2,776,165.45, on its operations last year.

Mr. Ransford Tommey, the Board Chairman, announced this at its 45th annual general meeting held in Sunyani and said the figure, represented an increase of 81.90 per cent over the previous year's total of GH¢1,525,941.13.

The occasion coincided with the official inauguration of a four-storey office complex it had built at the Sunyani Central Business District.

He said the strong performance came on the back of prudent financial management and operational efficiency.

Mr. Tommey said aside the impressive returns on operation, all other performance indicators - total deposits, liquid investments, shares, net loans, total reserves and total assets recorded significant growth.

This was refreshing considering the difficult economic environment and the collapse of investment fund clubs including 'God is Love', 'Little Drop', 'Care for Humanity and the DKM Micro-finance, which affected the finances of many people in the region.

Touching on its corporate social responsibility, Mr. Tommey said the Union donated an 80KVA power generating plant valued at GHȼ120,000.00 to the Techiman Holy Family Catholic Hospital.

That, he said, assured the facility of uninterrupted power supply during the energy crisis.

Mr. Eric Opoku, the Brong-Ahafo Regional Minister, said the co-operative credit unions were playing vital role in the fight against poverty and applauded the Board and Management of AbCCU for the 45 years of successful operation.

It had demonstrated that it was safe for people to do business with it and he encouraged the people to join credit union.

The Most Reverend Mathew Kwasi Gyamfi, Catholic Bishop of Sunyani advised the management and staff to continue to uphold best practices - integrity, transparency and accountability.

The Union, established in 1971 at the Techiman Holy Family Hospital with 10 people currently has over 25,000 members and operates three branch offices - Sunyani, Kintampo and Buipe in the Northern Region.

GNA