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Regional News Wed, 16 Mar 2005

Bawku Hospital Workers Credit Union holds Annual General Meeting

Bawku (U/E), March 16, GNA - The Bawku Hospital Workers' Co-operative Credit Union (BWCCU), made a net savings of 633.9 million Cedis for the 2004 financial year, representing nearly 50 per cent increment over the previous year's figure of 423.8 million cedis. Loans given out to members also increased from 245.1 million cedis to 486.2 million cedis, whilst membership rose from 296 to 340 during the period under review.

Mr Emmanuel Awini, Chairman of the Board of Directors of the Bank made this known in a report during the eighth Annual General Meeting at Bawku in the Upper East Region

He noted that in spite of these giant strides, the non-repayment of loans by some members for the past two years had prevented it from increasing its value shares in other areas of investment and capital retention as stipulated by credit union conventions.

A seven-member Board of Directors chaired by Mr. Mohammed Dinko, an Accountant, was sworn into office to steer the affairs of the BWCCU for the next two years.

Source: GNA