The UPSA Cooperative Credit Union held its Annual General Meeting (AGM) on Thursday, May 29, 2025, with members gathering to review the union’s financial performance and adopt key resolutions for the 2025 fiscal year.
The AGM offered members the opportunity to receive and adopt the Statement of Accounts for the 2024 financial year and approve the proposed budget for 2025. Members also passed resolutions aimed at enhancing the union’s operations and service delivery. Presenting the financial report, Chairperson for the Union, Dr. Philomena Dadzie, highlighted a series of significant milestones achieved in 2024.
The union recorded a 44% increase in net surplus, rising from GHS228,364.22 in 2023 to GHS327,936.86. Additionally, the investment portfolio grew by 29% to reach GHS1,010,080, while total shares saw a 55% rise, amounting to GHS257,538. Overall assets surged by 51% to GHS3,821,782.13, up from GHS2,538,935.75, with member savings increasing by 10%. Dr. Dadzie announced that the Credit union had attained a Grade A status—an indication of its robust financial health and compliance with all statutory obligations.
“We successfully achieved our targets for the year through strategic planning, consistent team effort, and a strong focus on delivering results,” she noted, adding that the union remains committed to excellence, member satisfaction, and prudent financial management. The Regional Manager of the Credit Union Association (CUA), Mr. Daniel Coffie, commended the UPSA Cooperative Credit Union for its outstanding financial performance, describing it as “the fastest-growing cooperative union in the country”. He particularly highlighted the union’s 10% average asset growth, noting that it significantly surpasses the industry average of 6%. The AGM concluded with the union declaring a 30 percent dividend for all shareholders.