Hydro Cooperative Credit Union Limited declares 40 per cent dividend

The Hydro Cooperative Credit Union Limited (HCCUL) has declared a dividend of 40 per cent on the operating reserve of the Credit Union for 2025 for its members.

The Board Chairman, Edward Offei Koranteng, who announced this, said that through prudent resource optimisation, the credit union demonstrated significant growth in its core operations during the 2025 financial year with notable increases in asset accumulation and income generation.

He added that Ghana’s economy saw a recovery in 2025 with easing inflation and loosening monetary policy.

Mr Koranteng made this known at the union’s 45th Annual General Meeting (AGM) at Akosombo in the Asuogyaman District in the Eastern Region.

The 2025 AGM was held on the theme: “Strengthening governance and accountability for membership confidence”. 

Performance highlights

Giving the performance highlights of the union at the meeting, Mr Koranteng said, “Our asset base expanded by approximately 23 per cent, reaching GH₵256, 336,741.21 in 2025 compared with notable increases in asset accumulation, GH₵208, 156,748.28 in 2024.

He said total revenue increased by 26 per cent to GH₵44,371, 36.37 with the primary driver being interest on loans, which grew to GH₵38, 403,076.56 from GH₵29,985,369.84 in the previous year.

According to the Board Chairman, on the net surplus, despite rising operational costs, the Credit Union maintained a stable net surplus of GH₵10, 30, 647. 52 for the 2025 financial year, stressing ‘’nearly matching the 2024 restated surplus of GH₵10, 332, 856.60.”

Mr Koranteng reported that membership expanded by 16.69, rising from 14,748 members in December 2024 to 17, 209 members by December 25, 2025, which he attributed to the union’s increasing relevance and trust within the Union’s community.

Interest of members

The acting Registrar of Cooperatives, William Darlie, in an address, said the leadership, including the board of directors, held savings in trust and must therefore ensure that all decisions whether operational or strategic, were made in the best interest of the members.

‘Effective governance requires strong fiduciary responsibility, strategic oversight, continuous capacity building and leadership that operates with unity and integrity’, Mr Darlie added.              

The General Manager of the Union, Edward Arjarquah, noted that the society had demonstrated its commitment to the development and educational advancement to community development and educational advancement through a major corporate social responsibility (CSR) initiative by distributing branded exercise books to the public basic schools in the Akosombo area.

That effort, he said, not only supported the academic growth of young learners but also reflected the Society’s dedication to nurturing future leaders and potential members of Hydro 

HCCUL

The Hydro Cooperative Credit Union is a member-owned, member-controlled and member-financed Cooperative Financial Institution established by the staff members of Volta River Authority (VRA) in March 1971 with a mission of helping members to attain a life-time financial freedom through the provision of unique blend of savings and loans at competitive rates as well as financial advisory services for the purpose of raising their standard of living whilst ensuring the long-term sustainability of the Credit Union.

Over the past 50 years, the union has grown with a membership population of over 11, 300 comprising VRA, GRIDCo and the Bui Power Authority staff, collectively forming the majority as well as other government and private institutions, individuals, churches, Small and Medium Scale Enterprises, with a current total assets base of over GH₵160 million.