Kumasi: The Oil and Gas Co-operative Credit Union (OGCCU), headquartered at the BOST Depot in Kumasi, has recorded a growth in assets, rising to GH?6,808,581.06 in 2024 from GH?3,264,564.85 in 2023, marking a 100 percent increase.
According to Ghana News Agency, the milestone was announced at the Union's 4th Annual General Meeting (AGM) held at the BOST Depot in Kaase, Asokwa Municipality. Ing. Gideon Amewugah Kumah, Board Chairman of OGCCU, presented the report, stating that the Union's total income grew by 66 percent to GH?978,352 in 2024, up from GH?587,925 in 2023.
Members' deposits saw a 150 percent increase to GH?5,592,591.39, while members' shares rose by 73.3 percent to GH?681,476.37. Membership expanded by 40 percent, from 1,416 to 1,983 during the same period.
Ing. Kumah also mentioned that members would be rewarded with a proposed payout of GH?46,652.20 from the net surplus of GH?143,626.00, reflecting a 10 percent return on shares, pro-rated by share purchase timelines.
For 2025, the Board plans to strengthen internal controls, enhance staff training, intensify membership recruitment, and improve operational efficiency to sustain growth and service delivery.
