Standards Authority Credit Union holds AGM

The assets value of Ghana Standards Authority Co-operative Credit Union (GSACCU), has grown from GH¢1,275,174.73 in 2010 to ¢3,208786.87 in 2014 while surpluses grew from GH¢103,101.89 in 2013 to GH¢161,597.06.

The reserve of the union grew from GH¢ 355,839.84 in 2013 to GH¢448.901.21 in 2014. Income also grew from GH¢461,462.64 to GH¢504,740.93 during the year under review.

Mr Kwabena Acheampong, Chairman of the Board of GSACCU, told an Annual General Meeting that savings also grew from GH¢1,997,119.88 in 2013 to GH¢2,154,638.34 in 2014 and the shares increased from GH¢277,901.24 to GH¢326,812.42 in 2014.

The 13th Annual General Meeting in Accra was held on the theme: "Growing with our credit union, the role of the Member."

Mr Acheampong said interest on loan grew from GH¢275,551.68 to ¢345,847.40 in 2014, while expenditure dropped from GH¢358,360.75 in 2013 to GH¢343,143.87 in 2014

Mr Oduro Darko, former General Manager of the union asked members to invest their income wisely.

Prizes were presented to nine immediate past executive members of the local union.

The union presented seats valued at GH¢ 1,900.00 to the GSACCU clinic.