UENR Co-operative Credit Union makes impressive performance

The University of Energy and Natural Resources (UENR) Co-operative Credit Union has made tremendous improvement in its financial performance, Mr. Alfred Ohenenana Appiah, the Chair of the Management Board has announced.

He was speaking at the Union’s second Annual General Meeting which was on the theme “Providing Affordable Financial Products and Services, a Key to a Happy Family”.

Mr. Appiah said the Union’s total income as at June 30, 2018 was GhC218,334.04 as against GhC54,314.15 at the same period in 2017.

But he added members’ deposits was GhC786,477.15 whilst it was GhC335,617.00 in 2017, stressing that “the Union has a solid liquid reserve”.

Mr. Appiah announced that as part of its corporate social responsibility, the Union contributed to the Brong-Ahafo Chapter building project and to other internal organisations of the University community.

He indicated that the Union, within the period under review had made remarkable progress, citing that the Board had put in place a working strategic plan document which would guide its operations in the years to come.

Mr. Appiah added that there had been a great rise in the membership base of the Union which had resulted in an increase of its share capital and savings mobilization.

Mr. Kwame Asante Paapa, the Union’s Manager earlier in a welcoming address stated the Union started with 30 members but it presently has a membership of 500, comprising senior members, senior staff and junior staff of the University and also some outsiders.