The Winners Cooperative Credit Union Limited (WINCCU), a leading financial credit union in Volta and beyond, has registered over 218. 22 per cent rise in membership data for the year 2022 under review.
The figures saw a total of 14, 727 registered members comprising 6,238 males and 8,353 females for 2022 as against 7, 215 registered members in 2021.
Mr. Robert Darrah, WINCCU Board Chairman made the disclosure during its 10th Annual General Meeting (AGM) of the entity at Akatsi.
He said their outfit remained the fastest-growing financial institution in Volta and Ghana at large with a total income of GHC 5,831, 702.90 as against GHC 4, 804, 307. 03 for the year under review, representing a 21.38 per cent financial growth.
On Savings, Mr. Darrah said it recorded a 40.24 per cent increase from GHC 22,610,441.19 in 2022 against GHC 31,708,297.90 in 2021 while their Shares capital Base stands at GHC 3,360,005.23 in the year under review against GHC 2,381,727.55 in 2021.
Mr. Darrah also revealed, among other positive indicators, that their Asset Base had seen a 40.47 per cent growth of GHC 27,151,580.47 against GHC 38,139,920.27 and a total Reserve of GHC 1,953,582.71 against GHC 2,705,325.23 in the reviewing year.
“Let me emphasise here that all the items enumerated had seen great growth despite the financial crisis in the country. They were not achieved with ease, but through hard work and commitment on the part of the BOD, staff and members of the union.”
On other achievements, Mr Darrah stated that the Union appointed a Loan Administrator to oversee loan officers’ activities for each branch, employment of additional field cashiers to mitigate challenges of irregular visitation concerns from members, and the acquisition of a KIA Truck for rental services to both members and the public at a reduced rate.
However, the challenges, Mr. Darrah mentioned, include the refusal of members to repay loans obtained as scheduled, partial withdrawals, and others.
Mr. Darrah also appealed to guarantors of loans to remind members to repay their loans on time and the use of *899*66# to transact business with the union at the comfort of their homes.
Mr. Foster Dodzidenu Ananga, Vice Chairperson of the Credit Union Association (CUA), Volta Chapter, and a special guest, called on members and business owners to introduce innovations and add other business ventures to their existing ones.
There were solidarity messages from other sister credit unions and the presentation of a citation and a gift to Mr. Emmanuel Agbaxode, the Volta/Oti Regional Chairman of the Ghana Journalists Association for his dedicated service to society through the media landscape.
Some dignitaries from the financial sector including business owners and other sister credit unions, took part in the event which was held at the Akatsi main market Lorry Station.
It was on the theme “Repositioning Ourselves to Meet the Changing Economy.”
SOURCE: newsghana.com.gh