The University of Cape Coast (UCC) Cooperative Credit Union has successfully held its 29th Annual General Meeting (AGM), bringing together members, management, and key stakeholders to review the union’s performance and chart a way forward.
Speaking at the meeting, the Chief Executive Officer of the Ghana Cooperative Credit Union Association (CUA), Mr. Cyprian K.A. Basing, underscored the importance of the Annual General Meeting in the life of every credit union. He described the AGM as the highest decision-making body of the Credit Union, noting that it provides members with the opportunity to review performance, ensure accountability, and collectively determine the future direction of the union.
“The National General Meeting, as we know, is the highest decision-making forum of the Credit Union. It provides members with opportunities to review performance, ensure accountability, and collectively determine the direction of the Credit Union. Your presence here today affirms your commitment to cooperative democracy, transparency, and shared responsibility,” Mr. Basing stated.
He further acknowledged that the year under review was marked by economic pressures, heightened regulatory demands, and evolving member expectations. Despite these challenges, he commended the University of Cape Coast Cooperative Credit Union for its resilience and consistency in delivering reliable financial services to members, while maintaining sound governance and operational discipline. According to him, this achievement is a testament to the dedication and commitment of the board, executives, management, and staff of the Credit Union.
The outgoing Board Chairperson, Mrs. Charity Abraham, in her address, highlighted some of the challenges the board encountered upon assuming office, particularly in the area of digitalization. She explained that the existing software system at the time was not robust enough to support efficient operations and quality service delivery.
“In terms of digitalization, we had some challenges. The software we were using wasn’t really robust, so we had to change it. Changing the software meant enhancing our operations and improving service delivery. Through the new system, we’ve been able to reach a lot more members,” she explained.
Mrs. Abraham disclosed that the Credit Union’s membership had seen significant growth during the board’s tenure, increasing from just over 5,000 members to about 16,900 members, attributing this achievement largely to improved systems and strategic management.
On his part, the Manager of the Credit Union, Mr. Vincent Yamoah, outlined plans to introduce a pension scheme for members. He explained that the initiative is aimed at ensuring long-term financial security for members, especially during retirement.
“We want to make sure that members can have a retirement package that is well grounded and sustainable, something they can rely on in times of retirement. It’s not just about saving for a period, but also about having a pension scheme that will be beneficial to them in the long run,” Mr. Yamoah said.
The 29th AGM concluded with renewed commitment from members and management to strengthen the Credit Union, enhance service delivery, and promote financial inclusion and sustainability.
By Frank Asorba Kofi Essuman
