The University of Ghana Co-operative Credit Union has approved an additional GH₵1.5 million to complete a 50-bed emergency centre.
The approval was granted in a resolution passed at the Union’s Annual General Meeting (AGM) on Tuesday.
So far, GH₵4.06 million has been spent on the Corporate Social Responsibility (CSR) project that started in 2022 as part of the University of Ghana Hospital project.
In his report, Mr. Michael Asante Antwi, the Union’s Chairman, said that the additional fund was required due to high inflation and design modifications based on expert recommendation.
“The Board is pleased to announce that the facility is near completion and will be commissioned soon,” he said.
Mr Antwi disclosed that the Union had expanded its membership to include businesses owned by members, spouses and adult children of institutional members, individuals and businesses that operate on the university’s campus, and members who only want to save with the union.
He stated that new admissions reflected the Board’s growth strategy, which involved assessing the business environment and identifying expansion opportunities.
During the AGM, members also approved the payment of GH₵7.7 million as dividends for the end of the 2023 fiscal year.
Professor Nana Aba Appiah Amfo, the Vice-Chancellor of the University of Ghana commended the leadership of the Union for their commitment to steering the affairs of the organisation during the tough economic times.
She urged them to cast a wider net to bring in more members, citing the cooperative’s strength as its membership.
Mr. Francis Fiayiya, Manager of the Credit Union, disclosed that the organization had 10,054 members, with 815 joining during the year under review.
He stated that the union’s administration was committed to addressing its members’ needs by using cutting-edge technology, introducing innovative products and services, and investing in human capital.
“At the core of our achievement lies the collective strength, dedication and talent of our exceptional team,” he said.
GNA