Queen of Peace Credit Union holds AGM

Queen of Peace Co-operative Credit Union made a modest growth besides the membership rising from 4,423 in 2017 to 5,036 in 2018, Vincent Sam Brew, Board Chairman of the Co-operative Credit Union, has said.

Mr Sam Brew was addressing member co-operators at the 36th Annual General Meeting at the Queen of Peace Catholic Church Complex Hall in Madina, Accra.

He said total assets increased from GH¢5,720,067.44 in 2017 to GH¢7,041,065.22 in 2018, while shares rose from GH¢378,575.95 in 2017 to GH¢580,424.74 in 2018.

Mr Sam Brew said savings rose steadily from GH¢4,835,304.97 in 2017 to GH¢5,921,900.02 in 2018.

The Union’s surplus decreased from GH¢82,052.75 to GH¢56,801.69 in 2018 whiles the reserves rose from GH¢467,506.60 in 2017 to GH¢527,741.12 in 2018.

The Board Chairman said the union honoured all its statutory obligations, as a result of which it has been in the good books of the Chapter, the Credit Union Association and the Department of Co-operatives.

He said the Board will continue to take prudent measures to ensure the growth of member investments for the good of all.

GNA

 

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