The Goaso Diocesan Catholic Cooperative Society (GODCCOS) at Duayaw Nkwanta in the Ahafo Region has held its second Annual General Meeting with a call on persons within its catchment areas to join the society.
Monsignor Anthony Boahen Kyeremeh, Union Board Chairman, who represented the Goaso Diocese Catholic Bishop, Most Rev. Peter Atuahene, made the call in his address at the meeting attended by shareholders.
He disclosed that GODCCOS was the only financial institution in the country to have paid dividends to its shareholders, within five years of operation.
‘We are credible, and second to none, so have confidence in us, and join us today, for a better future,’ he appealed.
Mr. Augustine Effah Apraku, Board Chairman of the Society urged the staff to treat members and customers with utmost respect and politeness, in order to retain and increase its customer base.
He commended the General Manager, Mr. Joseph Yebuah Adumuah and his charges, for a good start, and urged them to keep up the spirit.
Mr. Osaah
ene Amankwah, Ahafo Regional Director of Cooperatives, appealed to members and prospective ones, to buy more shares, to ensure the growth, viability, and sustainability of the society.
He indicated that Duayaw Nkwanta GODCCOS performed favourably within approved standards, during the year under review.
Membership grew from 211, to 276, posting a growth rate of 23.55 per cent.
The society’s Liquid Funds stood at GHc41,917, hitting 1.6 per cent out of a two per cent maximum required on GHc53,427.46; while Liquid Investments recorded GHc1,403,876.35, representing a whopping 52.6 per cent, against the expected minimum ratio of 18 per cent on GHc480,847.18.
Net Loans to members was GHc1,159,729.65c, from the standardized GHc1,869,961.25, representing 43.4, and a maximum 70 per cents, respectively.
Shareholders received 10 per cent of individual total share value.
The GODCCOS is a non-bank financial institution in the Goaso Catholic Diocese of the Ahafo Region, open to the public.
Source: Ghana News Agency
