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Wa Community Co-operative Credit Union Marks 60th Anniversary at AGM

Accra: The Wa Community Co-operative Credit Union (WACCU) has celebrated its 60th anniversary, highlighting the significant achievements and contributions it has made to its members and the Upper West Region over the past six decades. The anniversary celebrations were held during the Union's 2025 Annual General Meeting (AGM) in Wa, marking its 56th AGM, and drew over 5,000 members from the region and beyond. According to Ghana News Agency, Mr. John Kofi Seidu, the Board Chairperson of WACCU, emphasized the Union's commitment to being a sustainable institution that continues to positively impact the lives of its members in line with its vision and mission. He also introduced new technological advancements at the bank, such as a 'short code' for banking and an Automated Teller Machine (ATM), aimed at meeting the evolving needs of its members. Mr. Seidu reported that in 2024, the bank achieved a surplus before tax of approximately GHS3.7 million and had assets exceeding GHS67 million. He projected that the Uni on's assets would reach at least GHS80 million by the end of 2025. An impact assessment presented by Dr. John Bosco Baguri Sumani, a consultant, revealed the Union's positive effects on various aspects such as economy, agriculture, socio-cultural development, and the environment. The assessment highlighted that members benefited from easy access to business loans and emergency financial support. In agriculture, members obtained loans for farm equipment like tractors and farm inputs, facilitated by the Union. WACCU's role extended beyond financial services, fostering social cohesion among members and maintaining an environmentally conscious approach through the provision of eco-friendly farm inputs. During the AGM, the WACCU Board proposed and secured approval for two resolutions: the budget and strategic plan for 2025, and a proposed 20 percent dividend for members. However, Mr. Abraham Dakurah, the Supervising Manager, noted that loan delinquency remained a significant challenge, with the Union writing off GHS1 million in loans in the year under review.