The Medical and Health Services Cooperative Credit Union (MHSCCU) reported significant growth, with total profit increasing from D5.1 million in 2023 to D5.6 million in 2024, a 9.8% improvement.
Treasurer Karim S. Darboe shared these updates during the Annual General Meeting at the NACCUG conference hall.
Net operating income rose 13%, from D24.8 million in 2023 to D28.1 million in 2024, while expenses increased from D19.7 million to D22.5 million.
The liquidity ratio improved from 10% to 27%, enabling the Union to invest D9.9 million in the construction of Kaur Lodge, which is expected to open in late 2025.
Darboe emphasized the importance of timely payments and increased savings to enhance liquidity and support the Union’s operations as a not-for-profit organization dedicated to its members’ financial well-being.
