Grapevine

UEW Co-operative Credit Union makes significant strides in investment base

Kumasi Oct. 07. GNA – The University of Education, Winneba (UEW) Co-operative Credit Union Limited has made significant strides in building its investment base after having satisfied its members’ loan demands and the investment in their office extension projects.

The Union had investment forming 21.68 per cent of its total assets in conformity with the Bank of Ghana’s requirement of a minimum of 20 per cent, which translated to GH₵19,353,853.02 in 2023 as against GH₵17,238,406.70 in 2022.

Mr Charles Coffie, the Chairperson of the UEW Co-operative Credit Union Limited, announced this at the 22nd Annual General Meeting (AGM) of the Union in Kumasi.

The meeting also marked 30 years of the establishment of the Credit Union.

Mr Coffie said the Union recorded an increase in net surplus in 2023, which amounted to GH₵54,743,807.90, as against GH₵3,478,945.62 recorded in 2022, representing an increase of 36.36 per cent.