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Techiman (Brong Ahafo) 9 Nov. ’99

The Abosomakotre Credit Union of the Techiman Holy Family Hospital made a net profit of 19.9 million cedis as against 3.7 million cedis the previous year.

The union gave out loans totalling 169.9 million cedis to 194 of its members as against 121.2 million cedis to 101 members last year, Mr Stephen Aboagye, chairman of the union, told the annual general meeting at Techiman.

Mr Aboagye, also the administrator of the Techiman Holy Family hospital, attributed their achievements to the union's good fiscal policies.

He urged members to sustain the gains of the union by saving more and avoiding petty squabbles which do not augur well for the growth of the union.

An audited report presented by Mr James Okyere, the District Deputy Co-operative Officer, showed "a tremendous growth in the union's assets over the previous year".

It, however, observed that but for a few lapses the union would have done better.

The report commended the accounts section of the union for a good work done and urged it to do more to enhance the growth of the union to the benefit of members.

Mr John Arthur Acheampong, Brong-Ahafo Regional Field Officer of the Credit Unions Association (CUA), pleaded with the executive of the union to invest part of the profits in other ventures to earn additional income.

A founding member of the union and currently the first national vice-chairperson of CUA, Mrs Elizabeth Dwamena, gave an overview of credit unionism in Ghana, saying the Abosomakotre Credit Union had gained popularity in the country.

GRi../