The Benso Oil Palm Plantation (BOPP) Cooperative Credit Union Limited has recorded impressive financial growth and stability in 2025.
The Union’s income increased significantly from GH¢3.3million in 2024 to GH¢6.2million representing about 90 per cent increase in 2025.
Speaking at the Credit Union’s 10th Annual General Meeting, the Board Chairman, Mr Melchizedek Tenkorang Oduro attributed the growth largely to the effective recovery of interest on loans.
He revealed that the Union strengthened its investment portfolio, rising from GH¢4.05million to GH¢12.6million, representing about 211 per cent.
During the year Mr Oduro said the Credit Union also disbursed loans totaling GH¢31,016,056.71 to its members and membership grew from 5,328 in 2024 to 7,873 in 2025, representing a growth rate of approximately 48 percent.
As part of its corporate social responsibility efforts, the Board Chairman said the Credit Union spent GH¢65,216 on community-based projects and initiatives aimed at improving the lives of people within its operational areas.
Mr Oduro noted that declining investment returns, rising operational costs, and the loan repayment and savings capacity of some members continued to pose challenges to the Union’s operations.
Despite those challenges, he assured members that the Board and Management remained committed to pursuing strategic initiatives that will drive digital transformation, strengthen community impact, enhance member value, improve governance, and ensure the institution’s long-term relevance in the evolving financial sector.
The Western Regional Chairman of the Ghana Cooperative Credit Unions Association, Professor Anthony Simons, emphasised that credit unions stated that the primary role of credit unions was to empower communities and enrich lives, stressing that active participation by members is essential to improving their financial well-being.
“Credit unions are vital pillars of national development—a movement built on solidarity, tested by resilience, and driven by a shared responsibility to uplift one another,” he said.
Professor Simons noted that since 1955, credit unions in Ghana have successfully navigated changes within the financial sector and remained resilient. He challenged the Board and Management to remain transparent, compliant, and bold in vision, while urging members to remain loyal, active, and financially disciplined.
He further encouraged the leadership to uphold cooperative values and good governance practices to ensure that BOPP Cooperative Credit Union continues to stand as a beacon of financial hope, empowering communities and enriching lives.
The Board proposed a dividend of GH¢0.12 per share, amounting to GH¢438,040.90 for the 2025 financial year.
During the event various categories were recognised and awarded for the reporting year, and several staff members and branches of the Credit Union were also recognised for their dedication, commitment, and outstanding performance for the year under consideration.
BY TIMES REPORTER
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