Odimafo Cooperative Credit Union (ODF), operating in Techiman in the Bono East Region, has recorded a net surplus of GH¢756,747.79 for the 2025 financial year, representing an increase of about 100.2 per cent over the GH¢377,953.91 recorded in 2024.
The figures were contained in the union’s financial statements presented at its 6th Annual General Meeting (AGM), held on Sunday, October 25, 2026, where members reviewed its financial performance and operational progress.
According to the financial report, ODF recorded a total income of GH¢2,053,734.91 in 2025, compared with GH¢1,463,874.50 in the previous year.
Total operating expenses increased from GH¢1,076,020.99 in 2024 to GH¢1,296,987.12 in 2025.
The report also showed that the union’s total assets grew from GH¢7,653,453.20 in 2024 to GH¢9,316,207.70 in 2025, while members’ savings increased from GH¢5,483,116.72 to GH¢5,692,202.80.
Speaking to the media after the meeting, the Manager of ODF, Mr. Kwame Asame, attributed the union’s growth to the collective efforts of its customers, shareholders and board members.
He said the achievement reflected the commitment of stakeholders to the development of the credit union and called for continued cooperation to sustain its progress.
“Over the years, we have continued to make progress because of the collective efforts of our customers, shareholders, management and board members. Their confidence in the union and their continued support have been very important to our growth.
“As we move forward, we will continue to work together to improve our services, strengthen our operations and ensure that members receive the benefits of belonging to the credit union,” Mr. Asame said.
Mr. Asame disclosed that the credit union had introduced new services, including a USSD code, to enable members to carry out transactions conveniently without necessarily visiting the banking hall.
He said the initiative formed part of efforts to improve service delivery and make banking services more accessible to members.
“We recognise that members need convenient and reliable ways to access their money and undertake transactions. The introduction of the USSD service, *899*775#, is therefore intended to make it easier for members to transact business without always having to come to the banking hall. We will continue to explore ways of improving our services to meet the changing needs of our members,” he said.
He also highlighted the introduction of a youth savings policy aimed at encouraging parents to save towards the future needs of their children.
According to him, the policy was designed to promote a savings culture among young people and help parents prepare financially for their children’s future.
“We want to encourage parents to start saving for their children from an early age because financial preparation is important for their future. Through the youth savings policy, we hope to help parents develop a consistent savings habit while introducing children to the importance of saving and financial responsibility.
“We believe this initiative will benefit families and help prepare the next generation to become responsible members of the financial system,” he stated.
Meanwhile, the Bono, Bono East and Ahafo Regional Chapter Chairman of Cooperative Credit Unions, Dr. Alfred Appiah, commended ODF for its financial performance and improvements in its operations.
He particularly praised the union for attracting young people and children, describing the development as important for the sustainability of the cooperative credit union sector.
“I am encouraged by the performance presented by ODF and the efforts being made to attract young people and children into the credit union system. The future of our sector depends partly on our ability to educate the younger generation about savings and financial responsibility.
“I therefore urge other credit unions to adopt measures that will make their services attractive and accessible to young people while continuing to serve existing members effectively,” he told our reporter.
Dr. Appiah also encouraged women to seek leadership positions in credit unions, stressing the need for inclusive participation in the management and governance of the sector.
“Women have an important role to play in the development of our credit unions, and they must be encouraged to take up leadership positions at the various levels of the sector. Their participation will help broaden representation, strengthen decision-making and ensure that the interests of different groups within our membership are considered. We must therefore create opportunities for women to contribute meaningfully to the leadership and growth of our institutions,” he said.
For his part, the newly elected Board Chairman of ODF, Mr. Charles Agyapong, outlined plans to attract more customers and secure a befitting office accommodation for the union.
He said the board would focus on expanding the union’s membership, improving service delivery and creating a more suitable working environment to support its operations.
“As a board, our responsibility is to build on the progress already made and ensure that the credit union continues to grow in the interest of its members.
“We intend to intensify efforts to attract more customers, strengthen our relationship with existing members and work towards securing a befitting office accommodation. We believe that with the cooperation of management, staff and members, we can achieve these objectives and position ODF for further growth,” Mr. Agyapong said.
The AGM provided members with an opportunity to assess the union’s financial position, review its performance during the year and consider measures to improve its services and strengthen its operations.
Source: Newspyramid.com
