Swedru Teachers Cooperative Credit Union Undergoes Transformation

As part of efforts to rebrand itself to expand its operations, the Swedru Teachers Cooperative Credit Union has adopted a new name, now becoming ADEPA Cooperative Credit Union.

The acronym ADEPA represents (Accessibility, Dependable Efficiency and Effectiveness, Professionalism, and Accountability).

The new name was adopted through a resolution at the 19th Annual General Meeting of the Union in Agona Swedru on the theme: “Digitalization and Rebranding: Financial Evolution for the Cooperator.

Addressing the over eight thousand members of the Union, its Chief Executive Officer, Mr. Joseph Acquaye disclosed that the Union’s Total Assets increased from GH 32,398,623.67 Cedis the previous year 2021 to GH 38,768,737.72 Cedis in the year under review 2022, an increase of 20% whiles its investments portfolio also increases from GH 5,686,433.97 Cedis to GH 7,395,149.67 Cedis under the same period.

He further disclosed that the Union’s Net Loans to members also increased from GH 19,637,441.31 Cedis to GH 23,244,913.15 Cedis, representing an increase of 18.4% whiles its Total deposits also increased from GH 23,754,897.03 Cedis to GH 28,220,1544.65 Cedis under the same period with a Net Surplus of GH 1,746,327.30 Cedis. Later, some members and staff of the Union were awarded for their loyalty and dedication to the growth of the Union.

By Robert Ayanful

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