University of Ghana Credit Union assets rose to GH¢102m in 2018

Dr Jonathan Nicholas Anglo, the University of Ghana Co-operative Union Limited outgoing Board Chairman, has said the total assets of the union rose significantly from GH¢77,095,132.83 in 2017 to GH¢102,541,408.48 in 2018.

Dr Anglo was speaking during the Annual General Meeting of the Credit Union at the Great Hall on the University of Ghana Campus.

He said deposits also rose from GH¢51,511,216.79 to GH¢64,078,074.00 in the same period.

Mr Anglo said membership of the union which stood at 4,979 in 2014 increased to 7,370 in 2018 representing 48 per cent increase.

The outgoing Board Chairman said that the new credit union edifice, which construction began in 2017, was completed with a total cost of GH¢3.9 million and was inaugurated by Prof Ebenezer Oduro Owusu, the current Vice-Chancellor of the University of Ghana Legon.

Dr Anglo said during his tenure, the Credit Union Association of Ghana (CUA) in 2016, declared the University of Ghana Co-operative Crédit Union as the largest and overall best Credit Union in the country.

As part of their social responsibility, the Legon Credit Union made donations to the University of Professional Studies Accra, the Legon Police Station and the University of Ghana Alumni Association.

Mr Mohammed Saani, an official from Co-operative Crédit Union (CUA), said due to the turbulence in the financial system there is the need to act with diligence in dealing with other institutions.

He urged them to work harder to justify the confidence their members reposed in them.

Felicitation greetings were received from various associations from within and outside the University.

New executive members led by Dr Nana Simpson were sworn in and introduced to members of the Union.

Source: GNA

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