Board of Directors reports at the AGM

Oil & Gas Co-operative Credit Union Limited Reports Strong 2025 Performance

2025 Annual General Meeting — Board of Directors' Report

On behalf of the Board of Directors, the Chairman presented the Board's report for the year ended 31 December 2025, highlighting continued growth and financial stability for the Oil and Gas Co-operative Credit Union Limited.

Membership Growth

The Credit Union closed the year with 2,533 members, reflecting sustained confidence from employees and stakeholders across the industry.

Financial Performance

The institution remained in a healthy financial position throughout the year:

• Total assets: approximately GH¢9.8 million

• Members' savings: GH¢7.5 million

• Loans disbursed to members: approximately GH¢5.12 million, supporting personal, family, and other financial needs

Liquidity and Capital Position

Key financial indicators stayed comfortably above regulatory benchmarks set by the Cooperative Union Association (CUA):

• Liquid funds and investments: approximately GH¢4.19 million, representing 42.26% (above the 20% CUA benchmark)

• Capital adequacy: 23.27% (above the 20% CUA benchmark)

• Loan-to-asset ratio: 51.71% (within the 69% CUA standard)

These figures give the Board confidence in the Credit Union's continued financial stability.

Income Statement

• Total income: GH¢1,662,921.72

• Total operating expenses: GH¢1,087,697.23

• Net surplus for the year: GH¢575,224.49

Challenges and Areas for Improvement

While encouraged by the results, the Board acknowledged ongoing work ahead, including the need to:

• Improve loan recovery and monitoring

• Increase savings mobilization

• Control operational costs

• Find new avenues for generating income

• Encourage greater member participation and use of available financial products

Appreciation

The Board extended its thanks to members for their continued trust, savings, loan repayments, and participation, as well as to management, staff, and committees for their dedication and contribution to the organization's growth.

Looking ahead, the Board reaffirmed its commitment to strengthening systems, improving service delivery, and ensuring the responsible management of members' funds — building a stronger, more sustainable Credit Union for today and future generations.

"Together, let us continue to build a Credit Union we can all be proud of. Thank you."