By Mildred Siabi-Mensah
Adum Banso (WR), June 25, GNA- The Benso Oil Palm Plantation (BOPP) Cooperative Credit Union Limited recorded an impressive financial growth and stability in 2025.
Mr. Melchizedek Tenkorang Oduro, the Board Chairman, speaking at the Credit Union’s 10th Annual General Meeting, disclosed that the Union’s income increased significantly from GH¢3.3million in 2024 to GH¢6.2million representing about 90 percent increase in 2025.
He attributed the growth largely to the effective recovery of interest on loans.
Mr. Oduro further revealed that the Union strengthened its investment portfolio, rising from GH¢4.05million to GH¢12.6million, representing about 211 percent.
During the year, the Credit Union also disbursed loans totalling GH¢31,016,056.71 to its members.
Membership grew from 5,328 in 2024 to 7,873 in 2025, representing a growth rate of approximately 48 percent.
As part of its corporate social responsibility efforts, the Credit Union spent GH¢65,216 on community-based projects and initiatives aimed at improving the lives of people within its operational areas.
The Board Chairman noted that declining investment returns, rising operational costs, and the loan repayment and savings capacity of some members continued to pose challenges to the Union’s operations.
Despite these challenges, he assured members that the Board and Management remained committed to pursuing strategic initiatives that would drive digital transformation, strengthen community impact, enhance member value, improve governance, and ensure the institution’s long-term relevance in the evolving financial sector.
Professor Anthony Simons, The Western Regional Chairman of the Ghana Cooperative Credit Unions Association, emphasised that credit unions were not institutions for the poor alone but were opened to all individuals seeking financial stability and independence.
He stated that the primary role of credit unions was to empower communities and enrich lives, stressing that active participation by members was essential to improve upon their financial well-being.
“Credit unions are vital pillars of national development—a movement built on solidarity, tested by resilience, and driven by a shared responsibility to uplift one another,” he said.
Professor Simons indicated that since 1955, credit unions in Ghana have successfully navigated changes within the financial sector and remained resilient.
He challenged the Board and Management to remain transparent, compliant, and bold in vision, while urging members to remain loyal, active, and financially disciplined.
He further encouraged the leadership to uphold cooperative values and good governance practices to ensure that BOPP Cooperative Credit Union continued to stand as a beacon of financial hope, empowering communities and enriching lives.
The Board proposed a dividend of GH¢0.12 per share, amounting to GH¢438,040.90 for the 2025 financial year.
During the event various categories were recognized and awarded for the reporting year, Master Kwesi Asiedu Jnr and Ms. Christlove Asiedu were adjudged the Best Kiddy Savers.
Madam Ama Nkrumah was recognized as the Top Female Saver, while Mr. Maxwell Martey emerged as the Top Male Saver.
The awards for Highest Shareholders went to Ms. Leticia Asare and Mr. Godwin Mensah.
Several staff members and branches of the Credit Union were also recognized for their dedication, commitment, and outstanding performance for the year under consideration.
GNA
Edited by Justina Hilda Paaga/Benjamin Mensah
Reporter: Mildred Siabi-Mensah
Reporter’s email:[email protected]