Soil Research Institute Co-operative Credit Union Records Meaningful Financial Growth for Year 2024

Soil Research Institute Co-operative Credit Union Records Meaningful Financial Growth for Year 2024

The Soil Research Institute Co-operative Credit Union (SRICCU) has indeed recorded significant financial growth in 2024, despite the economic challenges faced during the year.

Total Assets: SRICCU’s total assets rose from GHs 18,913,595.34 in 2023 to GHs 35,367,998.48 in 2024, representing a substantial increase.

Normal Savings: Member savings grew from GHs 14,140,837.77 in 2023 to GHs 28,813,138.99 in 2024.

Membership Shares: Shares held by members increased from GHs 1,710,947.19 to GHs 2,413,014.61.
Liquid Investment: The credit union’s liquid investments also saw a notable rise, from GHs 5,700,848.95 to GHs 8,438,080.12.

Membership Growth: The number of members grew from 7,656 in 2023 to 9,916 in 2024.

To further support their members, SRICCU has introduced E-transaction services, providing core digital banking solutions through electronic mobile services, with or without internet access. This move aims to enhance the overall member experience and improve accessibility to financial services.

On operational improvement, the institution has rolled out E-transaction services to provide core digital banking solutions to members through the use of electronic mobile with or without Internet access.

This gives members access to all services of the credit union provided on its digital platform.

Aside the above mentioned, the Union succeeded in opening a new branch office at Tanoso which is fully operational and performing well with a staff strength of 10- comprising 4 males and 6 females.

During the year under review, SRICCU as part of its corporate social responsibility was able to organize a quiz competition with private and government schools within its operational areas.

The foregoing has set up the appetite of many schools to take part in the next quiz competition that will be organised by the union.

Management has also settled on organizing a sanitation program as well as other several corporate social program within its catchment area.

Board Chairman for Soil Research Institute Co-operative Credit Union, Mr. Edward Kissi made the above disclosure at the 25th Annual General Meeting of the Union which was organised on Friday, 16th May, 2025.

The meeting was held under the theme: “Shaping the Future of the Credit Union and It’s Members: Trends and Insights for Tomorrow”

In his address, he urged members of the union to ensure prompt payment of their loans so as to help the institution to continue supporting other members who are in need of financial assistance.

Source: Justice Baffour Awuah//www.dailywatchgh.com