The Queen of Peace Co-operative Credit Union, has organized its 42nd Annual General Meeting (AGM) at Madina.
Speaking at the meeting, the board chairman Mr. Ebenezer Asiedu said, the membership of the union grew from 8,520 in 2023 to 9,150 in 2024.
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He said the Union’s assets grew from GHS 27,585,394.28 in 2023 to GHS,546,179.82 in 2024, while the net loans grew from GHS 9,621,245.25 in 2023 to GHS,668,010.89.
The Investments also grew from GHS 9,621245.25 in 2023 to GHS 14,501,377.78, while the membership Savings grew from GHS 22,074,204.38 in 2023 to GHS 31,338,872.62 in 2024.
The board chairman said the union’s shares also grew from GHS 2,287,997.57 in 2023 to GHS 2,660,619.38 in 2024, while total expenses increased from GHS 3,073,411.00 in 2023 to GHS 4,390,803.60 in 2024
Mr Asiedu proposed a dividend of 30 per cent of the net surplus for the approval of members.
On social and corporate responsibility, he said the Union embarked on a free medical outreach for members at the Madina central market at a cost of GHS 20,000.00.
He said they also donated GHS 80,000.00 to the Queen of Peace Church for construction of a grotto and there was another donation of GHS20,000.00 to the Saint John of God Parish in Amrahia while GHS 10,000.00 was donated to the catholic charismatic renewal.
He appealed to all members to support the union by increasing their investment in shares.
The auditor for CUA, Madam Ruby Eyram Owusu Antwi said the financial statements gave a true and fair view of the financial position of the Queen of Peace Credit Union.
The acting Registrar for the Department of Co-Operative, Mr William Kwarshie Darli cautioned the board on prudent investment and called on the management board to educate its members on various aspects of the union.
He also has commended the union board for doing a good work.
Hardworking groups and members were presented with gifts.
