The Board chairman of Twifo Oil Palm plaintaintion employees co-operative cridit Union Mr Shaque Author has the pleasure to submit this years report to the members of the society for the financial year period ended 30th June 2018.
According to the Board chairman Mr Ishaque Author the income for 2017/2018 Financial year grew by 9.5% compared with 2016/ 2017.He said that the percentage increase mainly came from interest on loans granted to the members during period.
The Board member also said that the boards resolve to keep the cooperative society’s liquidity position above 50% was once achieved at the end of 2017/2018 financial year .though the CUA standard Prescribe mandatory 30% ,that we have continually set their target above 50% each financial year. Liquid investment stood at 56% of total asset.
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The boarded chairman openly said that the total asset of the TOPP society for 2017/2018 stood at GH 4,497,555.80 .This shows a growth of 20% compared with previous financial year
On saving the chairman says that members savings grew by 27% from previous financial year. This fell below the society’s target of 35% . The board plains to put in place more education and measure to meet this target in the next financial year.
He also disclosed to the media that the Loans disbursed to members during 2017/2018 financial year stood at GH 1,597,111.86 . That this represent an increase of 21% compared with previous financial year.
Mr Ishaque Author said the board TOP cooperative society promised it members during last year AGM ,all deposits made by their members will received notification on their mobile device to confirmed that monies paid has been received and credited to their accounts. More over the board chairman said that the board also plains to have Mobile Merchant account where a member can make payment into it without necessarily going to the bank and this will save time and make payment more convenient especially for members who reside outside their operational areas .
Mr Ishaque Author therefore encourage Ghanaians and Parents to make good used of any money have either to save in Bank or to by something first which will help them not live in a rented House when they are in old age for more details contact Mr Ishaque Author 0246393326
Story by Amansansomakrofour Tang Solomon (Arise 87.7fm Twifo praso)
0541895860
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