The Bole Co-operative Credit Union (BOCCCU) celebrated a significant milestone with the commissioning of its new branch in Tuna, marking a momentous occasion for both the credit union and the community in Tuna on 9th December, 2023. The inauguration ceremony, attended by distinguished guests, members, and stakeholders, was graced by a speech from the Board Chairman, who highlighted the union’s achievements, challenges, and a call for community support.
Established in the year 2000, BOCCCU transferred ownership from the Bole Catholic workers to the community in 2002, earning its affiliation status as a community credit union. Operating within Bole, STK, and the Savannah Regional Capital-Damongo, BOCCCU currently boasts a total membership of 6,149. The newly commissioned Tuna branch, with a membership population of 1,180, reflects the credit union’s commitment to expanding its reach and impact.
The Board Chairman, Mr. Natomah Adams addressing the audience, recalled about the promises made during the 2020/2021 Annual General Meetings to provide Tuna and its environs with a fitting office space. With the unwavering support of the community and the collective efforts of the board, this promise has now become a reality.
Among the notable achievements of BOCCCU, the chairman emphasized its good standing in Ghana and the Upper West Region, ranking 2nd in assets size within its chapter. Despite economic challenges, including the banking sector cleanup, BOCCCU navigated through difficulties, ensuring no member suffered financial loss.
In the 2022 financial year, BOCCCU achieved a remarkable viability status (grade A) according to CUA standards, reflecting its continuous growth in assets, membership, and net surpluses.
However, the chairman, Mr. Natomah Adams acknowledged challenges faced by the credit union, particularly loan repayment default/delinquency across all branches, including Tuna. He urged members to protect the association by meeting their financial obligations promptly.
Addressing another challenge, the chairman expressed concern over the peddling of falsehood about the union by some members. A stern warning was issued, emphasizing that the association would not hesitate to take legal action against those making malicious comments that threaten its growth.
In a heartfelt plea, the chairman implored the chief, elders, opinion leaders, and the entire community of Tuna to take ownership of the credit union. Highlighting the potential benefits, including employment opportunities for the youth and social corporate responsibility activities, he emphasized the importance of community support for the credit union’s sustainability.
Amidst the jubilant atmosphere, the Tuna Chief, Tunawura Sarfo Amantana Mahama took the podium to share his personal experience with BOCCCU. In a poignant testimony, he expressed gratitude for the invaluable support the credit union provided for his family’s education and agricultural endeavors.
The Chief recounted, “BOCCCU has been a lifeline for my family. With their financial assistance, I’ve been able to fund my children’s education, making it possible for one to pursue medicine in Ukraine, another to successfully complete a master’s degree, and the youngest currently studying law. The credit union’s support has been instrumental in shaping their futures, and for that, I am truly grateful.”
Highlighting another facet of his interaction with BOCCCU, the Chief spoke about utilizing loans from the credit union to support his farming activities. He praised BOCCCU for its flexibility, stating, “In addition to education, BOCCCU has been my partner in agriculture. I have taken loans to invest in my farm, and the returns have been beneficial not just for me but for the entire community.”
Encouraging others to follow suit, the Chief passionately urged the community to save and invest in BOCCCU. He emphasized, “I stand here as a testament to the positive impact BOCCCU can have on your life. Saving with them not only secures your future but contributes to the growth and prosperity of our community. Let us all join hands and support BOCCCU, our financial backbone.”
As BOCCCU embarks on this new chapter with the Tuna branch, the credit union looks forward to continued growth, community engagement, and financial empowerment for its members. The inauguration ceremony marked not just the opening of an office but the strengthening of a bond between BOCCCU and the vibrant community of Tuna.
The chairman however expressing gratitude to key contributors, including the chief and elders of Tuna, Mr. Bufalo, Al Haji Wahab, the ECG church leadership, and others who played pivotal roles in the construction of the Tuna branch.
By Edwin Gogu/padfm.com.gh/0555588660
