ACCRA, Ghana–The Shama Community Co-operative Credit Union Limited (SHACCU) last year recorded an impressive fiscal performance by raising its capital adequacy ratio to 17%, which exceeded its target of 15%.
Kwaku Nyarko Addo, Chief Executive Officer of SHACCU, told Ghana Business News that despite the numerous challenges within the year under review, the credit union was able to disburse GH¢5.2 million in terms of loan to more than 2,000 members.
At the annual general meeting of the credit union, Addo said a dividend of GH¢0.4 per share amounting to a total of GH¢54, 104.88 was also paid, according to Ghana Business News.
He said financial report and dividend information recorded a surplus of GH¢195, 077.65 as at the end of the 2016 fiscal year.
The CEO said the credit union was currently rated the largest union in the Western Region with an Asset base of GH¢12.2 million, deposit of GH¢9.4 million and a loan portfolio of GH¢5.2 million, Ghana Business News reported.
The SHACCU credit union during the year under review also rolled out its electronic service; VISA and Master cards ATM and E-zwich services.
The credit union said it also fulfilled its corporate social responsibility by providing computers to the Shama district education office, the Sekondi School for the deaf, and provision of street light among others.