The Saint Peter’s Co-operative Credit Union (SPCCU) in Kumasi has reported a net profit of GH¢464 million for the fiscal year 2023, a significant increase from the deficit of GH¢342 million in 2022. This represents a 235% rise from 2022 to 2023, resulting in a positive net surplus.
Mr. Kakraba Ben Kwabena, the President of the Board of Directors, made this announcement at the 52nd Annual General Meeting in Kumasi. He emphasized that the board is hopeful that SPCCU has returned to profitability and will use its resources to provide a better future for loyal members.
Mr Kakraba Ben Kwabena,Board President
“The surplus has surged by 235%, indicating successful debt payment and surplus accumulation”, Mr Ben Kwabena highlighted
“The 2023 annual general meeting was a joyous occasion for our members, as they departed with generous dividends,”
“We’ve raised our shares with the support of our members, from Ghc200 to Ghc 500, effective this December,” Mr. Ben Kwabena announced
He urged both existing and potential members to join Saint Peter’s Co-operative Credit Union
, citing the solid financial foundation of the financial institution .
The Chief Executive Officer of SPCCU, Mr. Emmanuel Amofa, emphasized the credit union’s commitment to serving members with good products and services. He also mentioned that new products are being developed to attract more members and expand total shares.
CEO Mr. Emmanuel Amofa emphasized the credit union’s role in enhancing members’ financial well-being, aiming to enrich their lives.
Mr Emmanuel Amofa,CEO
“I consistently emphasize that the credit union’s purpose isn’t profit-driven but rather focused on enhancing members’ living standards and fostering development,” stressed Mr. Amofa.
He extended an invitation to small-scale traders and SMEs to engage in business with the credit union, underscoring minimal loan interest rates.
A section of the shareholders
“Our membership comprises approximately 1500 shareholders, alongside others saving through our Susu account,” he disclosed“We offer various loan options tailored to our members’ needs, including trading loans, transport loans, and others,” he added.
A board member of SPCCU, Mr. Emmanuel Akrasi, encouraged members to increase their shares from 200 Ghana cedis to 500 Ghana cedis in order to enable them to enjoy more dividends.
