Business

TWEDIE COMMUNITY CO-OPERATIVE CREDIT UNION LTD RECORDS INCOME SURPLUS OF GH 136,477.18

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The Twedie  Community Co-operative Credit Union has  recorded  projected surplus of GH 136,477.18 2023 with expenditure of Gh373,846.10 minus 237,368.92 giving the accurate income surplus of the Gh136,477.18.
Addressing the Union 3rd Annual General Meeting at Twedie, Mr Bright Kwabena Owusu the Manager of the Union said interest on loans  on 2022 stood Gh139,246.00 as against Gh208,869.00 2023 representing percentage increase of  fifty (50).
He said interest on liquid investment, other financial income and non financial income 2022 recorded Gh35,035.48, Gh3,025.46 as well as Gh83,454.46 2022 respectively and 2023 recorded Gh52,553.22, Gh3,933,09 and 108,490.79 a percentage margins of 50_30-30 comprehensively.
Mr Owusu observed that, cost of fund, administrative, personnel, organisational including security, occupancy and members shares and deposit (savings) recorded Gh4,158.22, Gh89,437.50, Gh73,401,60, Gh56,058.00, Gh3,840.00, Gh10,473.60, Gh105,639.80, Gh2,184,464.42 in 2023 indicating remarkable improvements against 2022.
Mr Emmanuel Kyei the Board Chairman of the Union recounted that, members and non members of the Union have increased from 3,561 as at last year to 5,202 at the close of the year 2022.
He disclosed of the Union having members of 4,887 of which the members are from neighbour and sister towns such as Agogo,Boko,Yabi,Foase, Apaasi,Abuakwa and among others catchment areas.
Mr Kyei noted that, the Union has 75,457.00 shares as at 31st December,2022 as against 53,932.00 as at 30th June, 2021.
Savings including assets increased from 612,154.00 2021 to 1,365,290.00 2022
Assets increased from 758,043.00 2021 to 1,593,127.00 2022.
Commenting on community and employment opportunities for the people of Twedie,Mr Emmanuel Kyei told that, the Union has given working capital, Education, Funeral, Marriage together with employment opportunities being given to  children of members and non members  of the Credit Union.
He pointed out re_introduction of entrance fees to help bring some income into the credit union.
He therefore disclosed that, the Union is having plans to acquire plot of land for their permanent office.
For her part, Mrs Patricia Akyeabea_Adu the Atwima Kwanwoma District Director of Credit Union revealed that, trustworthiness is a key to a successful Credit Union banking, explaining that, look into the successes chalked by the Union,  loan repayments can be counted one of the challenges facing the credit union.
Adding that, aside high withdrawals and low shares turnout.
She therefore appealed to members of the Union to  be trustworthy and honest in their dealings with the Union.
From : David Amoateng/
Atwima Kwanwoma

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