‘UNICCU’ MARKS 25 YEARS AND HOLDS 23RD AGM AT HOHOE
Thursday, September 12, 2024
Story: Benjamin Makafui Attipoe, Hohoe
The Universe Co-operative Credit Union (UNICCU) Limited at Hohoe in the Hohoe Municipality of the Volta Region has held its 23rd Annual General Meeting (AGM) at the Holy Rosary Catholic Church at Hohoe. This year’s AGM also coincided with the 25th Anniversary Celebration of the Credit Union, which has branches not only at Hohoe but also in other sister districts in the catchment area, including Kpeve and Dzemeni in the South Dayi District.
The theme for the AGM cum the Silver Jubilee Celebration of UNICCU, formerly the Hohoe District Teachers’ Co-operative Credit Union, was, ‘UNICCU @ 25, Be The Goodwill Ambassador’. The Union, though it began with teachers, now has thousands of its members coming from other professions, including traders, market women, artisans, and civil servants, amongst others.
The outgoing Chairman of the Board of Directors (BoDs) of the Credit Union, Mr. Humphrey Adufu, had his management report presented to the members by his Vice, Mr. Joseph Chris Dzumador.
The report, which covered the operations of UNICCU for the 2023 financial year ending 31st December 2023, saw the Net Surplus of the Credit Union increasing from Ghc83,130.53 in 2022 to Ghc109,077.06 in 2023 while Total Assets went up from Ghc8,791,252.96 in 2022 to Ghc9,409,296.57 in 2023. He also announced that Total Income of UNICCU also increased from Ghc1,126,522.96 in 2022 to Ghc1,479,796.21 in 2023.
Mr. Adufu disclosed that UNICCU’s Shares, as well as the Savings of members, also went up during the year 2023. According to him, whereas Shares increased from Ghc918,541.24 in 2022 to Ghc978,675.68 in 2023, Total Savings of members also rose from Ghc7,598,186.62 in 2022 to Ghc8,062,436.62 in 2023.
Touching on Loans as well as Interest on Loans, the out-going BoD announced that Loans to members and Interest on Loans also rose from Ghc2,221,134.59 and Ghc391,862.76, respectively, in 2022 to Ghc2,577,529.57, and Ghc581,598.59, in 2023 with the membership of UNICCU at 25 hitting 10,305 during the year under review, up from 8,923 members in 2022.
Mr. Adifu mentioned rampant savings withdrawals, failure of some members to buy the minimum shares, increasing operational costs as well as UNICCU’s inability to access its locked-up funds as some of the challenges facing the Credit Union.
The Regional Manager in charge of the Volta Chapter of the Credit Unions Association (CUA), Mr. Ignatus Agama,, commended the Management, Boar,d, and Members of UNICCU for their modest and impressive achievements over the years.
There were goodwill messages from representatives of sister Credit Union (CUs) from the Volta and Oti Regions as well as one from the Volta and Oti Chapter of the Managers of Association of Credit Unions (ACUs). The Hohoe Municipal Director of Education (MDE), Mr. Victor Kwaku Kove, also addressed the AGM and stressed the need for members to continue to cultivate positive attitudes towards UNICCU, which would ultimately encourage more people to join the Union.
Awards, including citations,, were given to three (3) categories of members of the UNICCU family. There were staff awards with the Best Management Award for 2023 going to one of the Branch Managers, Mr. Emmanuel Sackey, diligent loan paying members as well as highest savers of the Union as well as a citation to several founding members of UNICCU, some of whom included Messrs P.Y.B Kotobridja, J.F. Tay, G.M.K. Sadzi, Humphrey K. Danso as well as Simon Numo.
New members were elected as the Board of Directors of UNICCU to serve the Union for the next four (4) years. They were Dr. Solomon Amankwa as Chairman, Mr. Michael Nyahe as Vice, Mr. Foster Asante as Secretary, and Ms. Olivia Ayayee as Treasurer. Mr. Charles Niiquaye is a Board Member.
The Universe Co-operative Credit Union (UNICCU) Limited has twenty (20) staff as its employees, with Mr. Prah Hilary Paa-Kwesi as its Managing Director (MD). UNICCU has also created indirect jobs through its services for many thousands in its catchment area, including all the Ve, Lolobi, Likpe, and Akpafu Traditional Areas as well as Fodome Helu, Wli, and Akplamafu communities.