18/04/2026
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The Volta Lake Co-operative Credit Union Limited (VLCCU) held its 13th Annual General Meeting (AGM) in Akosombo on March 28, 2026, reporting impressive financial growth, expanding membership, and a renewed commitment to resilience and sustainability in Ghanaโs evolving financial sector.
The meeting, held under the theme โResilience in Transition: Navigating Regulation and Risk for Sustainable Credit Union,โ brought together key stakeholders, including the Asuogyaman District Chief Executive, Hon. Godwin Bobobee, representatives from the Cooperative movement, management, and members of the Union.
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Addressing the gathering, the Board of Directors highlighted a strong financial performance for the 2025 financial year, describing it as a period marked by resilience and strategic growth. Net surplus rose significantly by 72.3 per cent from GHS157,595.28 in 2024 to GHS271,537.70 in 2025. Total assets also expanded by 30.45 per cent to GHS4.1 million, reflecting strengthened financial stability.
The Unionโs reserves nearly doubled, increasing by 92.38 per cent, while membership grew by over 17 per cent to reach 1,481 members. Member savings and shares also recorded notable increases, demonstrating growing confidence and participation among members.
The Board further reported a sharp rise in the loan portfolio, which grew by 69.2 per cent to over GHS3 million, underscoring the Unionโs critical role in providing accessible credit to individuals and small businesses amid tight lending conditions in the traditional banking sector.
A major highlight of the year under review was the successful commissioning of a new office in Adjena in October 2025. The facility now serves several surrounding communities, improving access to financial services and supporting the Unionโs financial inclusion agenda.
Speaking at the event, the District Chief Executive commended the Credit Union for its sustained impact, describing it as a โpillar of financial empowermentโ within the Asuogyaman District. He urged members to remain committed to savings and transparency to ensure long-term sustainability.
In a keynote address delivered on behalf of the Managing Director of Volta Lake Transport Limited, Hon. Mrs Angela Oforiwa Alorwu-Tay, by Mr. Godwin Owiredu Yeboah, Manager HR and MIS, the Union was praised for its transformation into a Grade A institution, with strong governance, expanding services, and increasing relevance in the cooperative financial space.
Looking ahead, the Union outlined its strategic priorities for 2026, including digital transformation, enhanced governance and risk management, expanded financial literacy programmes, and deeper member engagement. It also reaffirmed its commitment to complying with evolving regulatory requirements set by the Bank of Ghana.
Notably, the AGM approved the declaration of a dividend equivalent to 30 per cent of the net surplus after statutory reserves for the 2025 financial year. The dividend will be distributed to members as a payout credited directly to their share accounts, reflecting the Unionโs commitment to delivering value and rewarding member participation.
The AGM concluded with appreciation to members, staff, and stakeholders for their continued support, with leadership expressing confidence that the Union is well-positioned to sustain its growth and strengthen its role as a trusted, community-based financial institution.
The Volta Lake Co-operative Credit Union, which has grown steadily over the past two decades, continues to position itself as one of the fastest-growing credit unions in Ghana, driven by strong cooperative values and a commitment to member welfare.
https://vlccu.org.gh/wp-content/uploads/2026/04/2025-VLCCU-Reports-Financial-Statements.pdf
