The Oil and Gas Co-operative Credit Union (OGCCU) with its head office at the BOSTenergies Depot in Kumasi, has recorded significant financial growth with exceptional performance under the 2025 financial year.
The Union recorded a significant growth in assets, rising to GHS 9,800,563.20 in 2025 from GHS 6,808,581.06 in 2024, representing a 69 per cent increase.
The milestone was announced at the Union’s 5th Annual General Meeting (AGM) held at the BOSTenergies Depot in Kaase, in the Asokwa municipality.
Mr Gideon Amewugah Kumah, the Board Chairman of OGCCU, presenting the report, said the Union’s total income grew by 58 per cent to GHS 1,662,921.72 in 2025, compared to GHS 978,351.81 in 2024.
Members’ deposits grew by 73 per cent to GHS 7,564,278.19, whiles members’ shares increased by 60 per cent to GHS 1,130,475.48.
Membership also grew by 27 per cent, from 1983 to 2533 during the period.
Mr Kumah said the Union’s net surplus grew by 300 per cent from GHS 143,626.15 in 2024 to GHS 575,224.49 in 2025.
This, according to him, members would be rewarded with a proposed divided of 10 per cent return on shares, pro-rated by share purchase timelines.
For 2026, the Board plans to strengthen internal controls, improve loan recovery and monitoring, increase savings mobilisation, control operational cost and find new ways of generating income.
Mr Eric Achindiba, the General Manager (GM) Finance, BOSTenergies, was impressed with the Union’s financial performance under the year of review.
According to him, “this performance shows a true reflection of the great work the management and staff are doing.”
He used the opportunity to encourage all BOSTenergies staff to actively participate in the activities of the Credit Union and make better use of the financial products available to them.
Mr Michael Laud Zigah, the GM Human Resource and Administration, BOSTenergies, advised the BOST staff to take advantage of the credit union to purchase more shares to safeguard their pension.
According to him, most staff depend on their PETRA pension scheme even before going for retirement, indicating that, it was wrong, saying, “investing in the credit union would go a long way to help you when you are on retirement rather than depending on your PETRA.”
Mr Duncan Nimako, the Depot Manager, Kumasi, commended the members, staff and Management Board for their support in growing the Credit Union, assuring that he would be involved in the Union activities moving forward to help in its growth.
