Techiman credit union makes profit

Techiman, Dec 01, GNA - The Techiman Abotareye Cooperative Credit Union recorded 51.1 million cedis profit in 2004 as against 30.5 million cedis in 2003 representing 67.7 per cent. Mr. James Okyere, Techiman Municipal Cooperative Officer, said this while presenting the accounts at the Union's Fifth Annual General Meeting at Techiman.

Mr Okyere said the Union's income rose from 174.047 million cedis to 240.9 million cedis.

He said members' savings increased from 829.617 million cedis to 1.067 billion cedis and paid 87.1 million cedis as interest on members' savings.

Mr Okyere commended the Abotareye Union for investing 20.9 million cedis in treasury bills and acquiring a vehicle to earn income. Mr. Joseph N. Takyi, Chairman of the Union, said the Union granted loans totalling 571.6 million cedis to 53 members.