Savannah News Online Reporting Only What Matters Most
Related Articles
Salaga, Ghana – Board of Directors of the Salaga Farmers Cooperative Credit Union have said that the Credit Union has grown beyond going bankrupt.
According to the Board, the Credit Union currently has a total asset value of 2, 623,534.92 Ghana cedis which is above the requirements of the Bank of Ghana.
This was disclosed by the Board Secretary Amanda Wecheng at the 23rd Annual General Meeting of the Credit Union in Salaga in the Northern Region of Ghana.
“The Union has made total shares portfolio of 224,709.81Ghana cedis, total reserve of 768,115.51Ghana cedis, total savings portfolio of 1,486,892.62 Ghana cedis, total loans portfolio of 1,157,299.5 Ghana cedis and a total value asset of 2,623,534.92 Ghana cedis from June 2017″ she disclosed.
Amanda also added that, the Credit Union as part of efforts of executing the desired goals in terms of monitoring performance at its various branches and communities of operation, has procured a brand New Nissan Pick – Up.
” Let me announce to you that Salaga Farmers Co-Operative Credit Union has met all Bank of Ghana’s requirements to be licensed and has placed third on the Northern chapter Credit Union Association Limited in terms of numbers, assets among others” she indicated.
The Manageress of the Credit Union, Peace Atinbeok, said the Union is in good standing and appealed to members of the Cooperative to increase their shares of 100 cedis minimum and pay back their loans to offer the Union the needed capital for the needed growth.
The Salaga Farmers Cooperative Credit Union was established by the Roman Catholic Church and currently has a total staff strength of 35. It operates in four branches, over 80 communities and a total of has a total membership of 6,112.
By savannahnewsonline.com
