The Ajumako-Enyan-Essiam Teachers Cooperative Credit Union made a net profit of GH�9,669.09 in 2009 as against GH�5,081.45 in 2008, representing about 90.2 percent increase.
The Union granted loans totaling GH�634,082.91 in 2009 to members as against GH�554,411.47 the previous year.
Announcing this at the eighth Annual General Meeting of the Union at Ajumako, Mr Stephen Bennett, Chairman of the Board of Directors, said total assets increased from GH�965,267.62 in 2008 to GH�1,037,782.44 in 2009.
Savings, he indicated, also went up from GH�785,780.81 in 2008 to GH�839,233.72 in 2009, whilst total income moved from GH�79,923.64 in 2008 to GH�91,256.33.
Mr Bennett said the Union was now stretching its tentacles to reach out to teachers and non-teaching staff at the Enyan Denkyira, Mando and Bisease Senior High Schools in order to increase its membership.
Mr John James Amoah, Founder of the Union, appealed to the Credit Union Association (CUA) to ensure that Parliament approved the bill that would allow Credit Unions to operate banks.
According to him, most of the Credit Unions have adequate capital base, resources and facilities to operate as banks.
Mr Samuel Kumi Andoh, Central Regional Manager of the Credit Union Association, advised the people in the area to join the Union to enable them to receive financial assistance.
Mr Justice Owusu Amakwa, District Cooperative Officer, swearing in the 11-member, loans and supervising committee into office, charged them to be extra careful in handling the Union�s resources.
Mr Asuma Baidu, Central Regional Chairman of Credit Union Association appealed to loan defaulters to re-pay them to enable others to benefit.