The Savanna Agricultural Research Institute (SARI) Workers Co-operative Credit Union convened its 31st Annual General Meeting (AGM) to assess the past year's performance and elect new executives to guide its operations.
Themed “Sustaining the happy family legacy for the next generations: The role of quality service to members,” the AGM provided a platform to highlight achievements and set future goals.
Dr. Edwin Korbla Akley, Outgoing Vice Board Chairman of SARI Credit Union, delivered a speech on behalf of the Board Chairperson, emphasizing the Union's robust financial standing.
He disclosed, “The Union's capital adequacy ratio stood at 27 per cent as against the Credit Union Association of Ghana's standard of 20%.”
Dr. Akley attributed this success to strategies such as increasing minimum shares from GH₵200.00 to GH₵350.00, ongoing member education on share purchases, and the payment of higher dividends.
To expand membership accessibility, Dr. Akley announced the extension of source deductions of members, savings, and loans repayments to cover all Department of Co-operatives' employees in the entire Northern Region.
This move aimed to facilitate the inclusion of various professionals, including teachers and nurses, allowing them to join the Union and conveniently manage savings or loan repayments through source deduction at the Controller and Accountant General's Department.
Chaired by Dr. Francis Kusi, Director of SARI, the AGM emphasized the importance of improving the Union's performance to enhance members' trust and confidence.
Recognition was given to outstanding members with awards for their significant contributions to the Union's development.
The newly elected Board of Directors comprises Mr. Eleazar Ofosu Krofa as Chairman, Mr. Musah Iddi as Vice Chairman, Mr. Salim Lamini as Secretary, and Mr. Edem Daniel Halolo as Treasurer.