Business News of 2014-03-10

Queen of Peace Credit Union holds AGM

Mr Emmanuel Oduro Darko, General Manager of the Co-operative Credit Union of Ghana, has underscored the need for members to unite in order to build a vibrant association to champion their course.

Making the call at the 31st Annual General Meeting (AGM) of the Queen of Peace Co-operative Credit Union at Madina, Mr Darko pointed out that poverty does not come from God, but from within mankind.

He, therefore, reminded man that he can create wealth for himself only through hard work, determination and perseverance.

Mr Darko commended the Queen of Peace Credit Union for recovering fully from its financial problems, and urged members to sacrifice to build their savings. He commended the new management headed by Mr.Bertrand Zielley for a good work done.

Mr George Bannor, Chairman of the Board of Directors of the Credit Union, disclosed that membership grew from 2,591 in 2012 to 2,628 in 2013, with shares growing from 6,976.01 to 97,992.92 during the same period.

Mr. Bannor said savings increased from 1,248,481.17 to 1,475,604.77, whilst loans shot up from 928,798.96 to 1,023,786.96 representing 9.3%. He said loan defaulters were being vigorously pursued, and that an amount of 20,145.00 was collected in 2012/2013.

Mr Bannor disclosed that a modern Queen of Peace Credit Union edifice would soon be constructed and that the project will take off next month.

Shareholders from the Queen of Peace Catholic Church at Madina, the Saint Francis of Assisi Catholic Church at Ashale Botwe, the Saint Mark Catholic Church at Ashongman, the Our Lady of Fatima Catholic Church at Abokobi, and Our Lady of Apostles Catholic Church at Madina-Zongo, were there in their numbers to grace the occasion which was chaired by Mr Joseph Asante, a parishioner and member of the credit union.

The Queen of Peace Credit Union started operating on November 6, 1982.

Source: GNA
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