Hydro Co-operative Credit Union will leverage technology to meet customer demands

The Hydro Co-operative Credit Union says it will continue to leverage technology to meet growing customer demands.

According to the chairman of the board, Joseph Asare Keteku, this decision will ensure the efficiency and sustainable growth of the company.

Speaking at the 41st annual general meeting of the company, on the topic “Building and supporting the business of Hydro credit unions, the role of key stakeholders”, Mr. Keteku stressed that the company will engage in partnership agreements with other credit unions to expand its borders. .

“The food for thought for all of us is how to make the credit union sustainable, as we soberly think about the issues, we will take advantage of technology, adapt new strategies and partner with other credit unions to expand our borders “.

Hydro Co-operative Credit Union’s asset base grew from 90.4 million yen to 111 million yen. Member savings at the end of fiscal 2020 stood at 67 million yen.

The company saw a slight drop in profits to 5.5 million in 2020, however, from 6 million the year before.

This is due to the challenges and turmoil within the financial sector and the economy.

However, he declared a 30% dividend for the shareholders. The Hydro Credit Union is owned by staff of the Volta River Authority with a mission to help members achieve lifelong financial freedom through the provision of a unique blend of savings and loans at competitive rates as well as financial advisory services in order to increase their standard of living while ensuring the sustainability of the credit cooperative

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