The Co-operative Credit Union of the University of Ghana convened its Annual General Meeting (AGM) recently, reporting significant growth in total assets, member deposits, and surplus, despite a challenging macroeconomic environment marked by reduced inflation and policy rates. The meeting, held at the University of Ghana, highlighted the Union’s resilience and strategic expansion efforts.
Economic Landscape and Union Performance
Addressing the members, Professor William Coffie, speaking on behalf of the Chairman of the Board, noted that key macroeconomic indicators, including inflation and policy rates, had seen substantial reductions compared to the previous year. This stabilization was attributed to the government’s efforts to mitigate rising economic hardships.
Exchange rates, monetary policy rates, and treasury bill rates remained relatively stable after a sharp decline in the second quarter. Notably, the treasury bill rate experienced a remarkable decrease from 30% to 11%.
Professor Coffie emphasized that the University of Ghana Credit Union provided a unique avenue for strategic growth. “The Union has not only maintained its liquidity ratios but has strengthened its position as a safe haven for member savings, successfully outperforming market volatility to deliver consistent value,” he stated.
Key Financial Highlights
The Union’s financial performance demonstrated robust expansion. Total assets grew from GHS 320.93 million in 2024 to GHS 404.77 million in 2025, marking a significant increase.
Member deposits also saw a healthy rise, increasing from GHS 204.6 million in 2024 to GHS 241.79 million in 2025. The Union also reported substantial growth in its membership base, with an increase of 41.13% over the previous year, reaching GHS 73 million.
Total loans extended by the Union rose to GHS 188.90 million in 2025, up from GHS 167.42 million in 2024. This increase in lending activity reflects the growing financial needs of its members.
Surplus growth experienced a notable surge of 22.05% over the previous year, amounting to GHS 24.71 million. This strong surplus generation allows for greater returns to members.
Dividend Distribution and Membership Expansion
A significant resolution proposed for the general assembly’s adoption was the distribution of GHS 36 million of the surplus. If approved, each member would be entitled to a dividend of GHS 0.14 for every Cedi held in shares.
The University of Ghana Credit Union’s membership expanded by 1,073 individuals, bringing the total membership to 11,429. The Union continues to broaden its reach by extending its common bond to more institutions and individuals.
Future Growth Strategies
Professor Coffie outlined the Board’s commitment to further extending the Union’s footprint beyond the immediate University community. This expansion will be driven by a new membership drive and the introduction of business products tailored for the informal sector.
The Union plans to continue leveraging robust technology to enhance internal processes and improve service delivery. This digital transformation, combined with ongoing investments in staff capacity building, is intended to ensure the University of Ghana Credit Union provides world-class services that deliver tangible value to its members.
External Recognition and Corporate Social Responsibility
Mr. William Darle, the Registrar for Co-operatives, commended the Management Board for its Corporate Social Responsibility initiatives. He encouraged the Union to continue its support for the communities in which its members reside.
Madam Millicent Adgyei Okuampa, representing the CEO of CUA, described the 2025 financial statement as impressive. She also expressed satisfaction with the Union’s donation of fifty beds to the University of Ghana Hospital in Legon, highlighting their commitment to community welfare.
Looking Ahead
The University of Ghana Credit Union’s strong performance in a stabilizing economy sets a positive trajectory for its future. The focus on expanding membership beyond the university, developing products for the informal sector, and enhancing digital services indicates a strategic vision for sustained growth and increased member value. The upcoming dividend distribution and continued investment in technology will be key indicators to watch as the Union aims to solidify its position as a leading financial institution for its members.
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