Hydro Co-operative Credit Union to leverage technology to meet demands of customers
The Hydro Co-operative Credit Union says it will continue to leverage on technology to meet the rising demands of its customers.
According to the Board Chairman, Joseph Asare Keteku, the move will ensure efficiency and sustainable growth of the company.
Speaking at the 41st Annual General Meeting of the company, themed “Building and Sustaining the Hydro Credit Union Business, The Role of Key Stakeholders”, Mr. Keteku pointed out that the company will embark on partnership deals with other credit unions to expand it frontiers.
”The food for thought for all of us is that how do we sustain the credit union, as we reflect sober on issues, we will leverage technology, adapt new strategies and partner with other co-operative credit unions to expand our frontiers”.
Hydro Co-operative Credit Union asset base expanded from ¢90.4 million to ¢111million. Membership saving as at the end of the 2020 financial year stood at ¢67million.
The company however witnessed a slight reduction in profit to 5.5 million in 2020, from 6 million the previous year.
This was as a result of the challenges and turbulence within the financial sector and the economy.
However, it declared a dividend of 30% for shareholders. Hydro cooperative Credit Union is owned by the staff of the Volta River Authority with a mission of helping members to attain a lifetime financial freedom through provision of unique blend of savings and loans at competitive rates as well as financial advisory services for the purpose of raising their standard of living whiles ensuring the long-term sustainability of the credit union
Source: Ghana News
