The 2024 AGM of Aningdoh Cooperative Credit Union Limited (ANICCUL) is now history but one notable thing the members took home is that their hard earned savings are in very safe hands, indeed ANICCUL from the balance sheet presented is on an upward curve with several mile stone achievements in 2023.
Most members at the end of the 2024 AGM were very elated with the tract progress of the union. “I am going back a very satisfied member of AniCCUL” Nchang Bernice said.
“The things that have been done, the growth we are seeing, the interest I received for my savings, and even the items that I received for participating today make me extremely happy” another member, Abongwa Alfred said in pidgin English as he showed his take home package.
Looking back at the activities of the Union in 2023, some of the achievements are very evident like;
– AniCCUL remains one of the fastest growing Credit Union in the CAMCCUL network. AniCCUL recorded 570 new members in 2023, a challenging feat to achieve with the harsh and competitive climate in the region
– AniCCU’s balance sheet grew by 25% far above the network standard growth rate of 15%.
– AniCCUL paid attractive interest on members’ savings in 2023.
– AniCCUL in the course of 2023 was officially recognised by two different media organs as the best peoples oriented Credit Union.
– AniCCUL was able to obtain legal possession (land certificate ) for the newly acquired plot at Station on the GBHS Bamendankwe Road.
– Two collections centres were opened in 2023. Beside these tangible results, AniCCUL placed emphasizes on sustainability. Management has put in place enough Reserve funds to cover for any future huddles or losses.
AniCCUL in the past five years continue to be profitable, closing each of the past five years with a net surplus. The board ensured these surpluses are plough back into the business as reserves.
Management also explored ways to diversified Income generating activities. Today, AniCCUL offers Western Union Operations, RIA, WORLDREMIT and Moneygram in all our offices. This is to enable our members to reach their families members, accounts and business from anywhere in the world.
AniCCUL has also fully integrated Online platforms like whatsapp, facebook and a fully functional website to bring its services closer to its members. AniCCUL continue to encourage mostly rural farmers and petit traders with small loans at special interest rates in keeping with the ideals of the credit union movement.
Meanwhile as a way to continue to guarantee the savings of members are not tampered with, A special Loan Recovery Task Force shall be put in place to help tackle loan delinquency. This Task force shall use various reprisal means if necessary to make sure that recalcitrant members are called to order and loans recovered from them. Some very bad loans shall also be privatized and given to capable recovery agents who will work on a commission of the amount actually recovered.