The University of Education, Winneba Co-operative Credit Union (UEW) Limited has marked its 19th Annual General Meeting at the forecourt of the Unions premises on the University Campus.
Themed, “Active member participation: A key to sustainable co-operative”, it brought together droves of members from Winneba and its surrounding towns to go through registration to partake in the meeting.
UEW commenced its meeting which saw thousands of members, regional and national heads of the Ghana Co-operative Credit Unions Association (CUA) Limited, Department of Co-operatives, stakeholders in the Ghanaian financial sector and the Media congregating to commemorate this important event.
The meeting began with an opening prayer by Rev. Dr. Alexander Edwards, the Chaplain of the University and then the Manager for UEW, Mrs. Christiana Kilson gave the Welcome Address.
Mrs. Kilson proceeded with the introduction of dignitaries and a presentation of the previous AGM’s minutes was done by the Secretary to the Board of Directors, Mr. Seth Tompoli. He referred to an educational talk that was made on behalf of Professor Francis Owusu. Professor Owusu encouraged the Union to go digital. He also threw light on the principles of co-operatives and the need to join, invest and save in order to have financial freedom during retirement.
In his Keynote Address, the General Manager, Ghana Co-operative Credit Unions Association, Mr. Emmanuel Coffie appreciated Management, Board of Directors and members of the Union. He also cleared misconceptions that Bank of Ghana will revoke the licenses of some Credit Unions and reassured members that their funds are safe. He advised traders and owners of small enterprises to desist from taking loans from friends and rather join a Credit Union for better financial life.
In a Speech read on behalf of the Vice Chancellor of UEW, Rev. Father. Professor Anthony Afful-Broni by Professor Yaw Ameyaw, he appreciated the transparency and accountability of the Credit Union and also congratulated the new Board of Directors. He urged them to maintain the principles of the Union since it is the lifeline of its members.
Furthermore, Prof. Ameyaw noted that UEW Credit Union is living to its expectation of creating customized products to improve the livelihoods of farmers, Small and Medium Scale Enterprises and petty traders.
The out-going Chairman of the Union who doubles as the Chairman for the event, Mr. Steve Kamassah in his response welcomed dignitaries, invited guests and members who have come to grace the occasion. Mr. Kamassah presented the Annual report on behalf of the Board of Directors and emphasized that the Union exists to improve the livelihoods of its members.
This was trailed by the presentation of the audited report for the year which was put together by the Central Regional Department of Co-operatives and CUA.
The General Manager for UEW Credit Union, Christiana Kilson led the discussion on the annual and audited report as well as the approval of the budget for the 2019/ financial year.
The percentage of dividend raised a lot of deliberations but a consensus of 20% payable to member was reached.
Membership of the old Board of Directors was dissolved and the new elected Board members were sworn into office.
The Chairman elect for the new Board of Directors, Dr. Bernard B.B.Bingab, in his acceptance speech assured members of a more digitally-driven, improved products, services and operations.