Queen of Peace credit union holds AGM

Madina (GAR), Oct. 18, GNA - The Madina Queen of Peace Catholic Church Credit Union (QPCCCU) over the weekend held its 34th Annual General Meeting.

In attendance included stakeholders from the neighboring Catholic churches like Holy Rosary, Adenta; and OLA, Madina amongst others.

Nana Tabi Agyepong, the Regional Manager of the Credit Union Association (CUA), congratulated the management of QPCCCU for their exemplary role in fulfilling the key tenets of credit union association.

He expressed happiness at the achievements chalked by the leadership of the Union saying it was due to the numerous sacrifices and commitments they had undertaken and called on all stakeholders of the Union to continue to provide the needed support.

Nana Agyepong also urged the membership's to save on regular basis, pay their loans promptly and patronize in all products of the Union.

He called on the Union to adopt the principles of good governance, transparency and accountability.

Nana Agyepong said the first credit union was first established in 1849 in Germany and has since spread across the world providing reliable financial services to millions.

He said Queen of Peace Credit Union was just one of more than 57,000 credit unions in the world serving 217 million members from 105 countries.

Mr George Banner, the outgoing board chairman, said membership of the Union increased from 3,189 in 2015 to 3,730 in 2016.

He said in 2016 the total assets of the Union reached GH¢4,385,395.79 as compared to 2015 when they stood at GH¢3,246,644.96.

Mr Banner said savings also rose from GH¢2,517,490.34 in 2015 to GH¢3,476,725.00 in 2016.

He said the Union won the third place in the Management Information Systems category of this year's biennial conference in Kasoa.

Thirteen newly elected executives including Mr Vincent Sam Brew, the new Chairman for Queen of Peace Credit Union, were sworn into office for a four-term and awards were presented to deserving members of the Union. GNA