BACCCU rakes in more revenue

Ghana Cedis PixThe Bawku Area Community Co-operative Credit Union (BACCCU) has declared a net profit of GH¢114,516.09 this year as against GH¢94,310.81 recorded in 2013.

The Union’s total assets also grew from GH¢1,989.00 as against last year’s figure of GH¢1,779.00, representing 11.8 per cent increase.

Madam Rebecca Awuga, chairman of the Board of Directors of BACCCU speaking at the Union’s sixth annual general meeting here indicated that BACCCU had increased its membership from 1,445 in 2013 to 2,056 in 2014, representing an increase of 42.3 per cent.

According to her, the Union’s total outstanding loans increased from GH¢764,536.53 last year to GH¢885.170.36 this year, representing an increase of 15.8 per cent.

Madam Awuga mentioned the major challenges confronting the Union as lack of good office accommodation, loan default and low shares of the people.

Mr. Iddrisu Hamza, the newly appointed Regional Manager of the Ghana Co-operative Credit Unions Association (CUA), described BACCCU as a Community-Based Union with very huge potentials to grow and expand.

He advised management, especially the loans committee to find a means of retrieving loans locked up with the members.

The Bawku Municipal Co-operative Officer, Mr. Roland Anyana commended the management of the union for its hard work.

Some deserving members and other stakeholders were honoured with prizes such as television sets, refrigerators, burners and cylinders.

From Ibrahim A.Mohammed, Bawku

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