Credit union declares GH¢140,250.09 profit

Saint Martin De Porres Co-operative Credit Union Limited continue to show strong performance, posting a profit of GH¢140,250.09 on its operations, in year 2010.

Mr Matthew Oppong Asare, the Board Chairman, said the figure represented 118.43 per cent increase over that of the previous year’s.

He was addressing the 10th annual general meeting of the Union at the Atonsu-Agogo Roman Catholic Church in Kumasi.

Mr Oppong told the contributors that during the period, its total assets also shot up to GH¢2,680,887.97 from GH¢1,867,389.55, an increase of 43.56 per cent.

At the same time, there was a remarkable rise in savings from GH¢1,559,326.11 to GH¢2,204,434.26.

Mr Oppong said given the credit union’s impressive performance it has now been ranked in the Grade “A” Category and praised members of the board, management and the members for the achievement.

“Credit should go to all of us for helping to make this dream come true, he said. “We should continue to work hard to defend this status this coming year.”

He announced that the Union had acquired a plot of land at Atonsu- Monacco Junction for the construction of a permanent office building.

They are also working hard towards the purchase of an official vehicle.

Mr Kenneth Atta Danquah, the Guest Speaker, advised members to increase their savings so as to be assured of a more secured future.

Those who have benefited from loans should also make sure that they pay back on time to enable the facility to be extended to others, he advised.

Source: GNA