By Anthony Arugba
President, Bursary Welfare Association, BWA, Multi-Purpose Co-operative Society Limited, Delta State University ( DELSU), Abraka, Sir. Martin Denedo, has commended members of the association for their unwavering faith and trust in the society.
Denedo, who said this in Site Two Abraka during the 7th Annual General Meeting of Bursary Welfare Association Multi-Purpose Co-operative Society Limited, Abraka, noted that the unwavering commitment towards the development of the society exhibited by its members was evidenced in the interest university staff had always indicated in joining the society shortly after their employment.
According to him, during the year under review, a total of 123 new members were admitted into the society, while nine left bringing the overall membership strength of the society to 455 as at December, 2016, as against the 341 membership the society declared as at December, 2015.
He said that even though at the moment its membership strength have risen to 600, he noted with sadness that the association lost two of its members through death-Madam Beauty Itodje and Dr. Nwafor Obi.
While commiserating with the families of those members who departed through death, ” We also wish them success; all those who withdrew their memberships haven discovered greener pastures elsewhere, retirement and termination of appointment.”
On its Net Surplus, Denedo said, ” With Joy, the management committee hereby announces to cooperators a Net Surplus of N8, 457, 545. 24 for the year under review as against the Net surplus of N6, 847, 366. 50 of 2014, an increase of 24 per cent due to the dogged managerial efforts of the management committee in the areas of retrieval of loans from defaulting members, strict observance of the loan granting rules and introduction of policies, which though are on the superficial level harsh, yet will be rewarding on the long run.”
On financial discipline, the president said in the year under review-2016, a lot of members who were observed not to be paying their loans, were compelled to meet with the management committee, of which their deposit were used to offset part of their indebtedness and deduction commenced on their loans balance.
On seminars, Denedo said ” The management committee, BOT management, and a cross section of members attended seminars at Isiokolo. The seminar was organized by the Ministry of Commerce and Industry, Ethiope East Local Government Area of Delta State. Without mincing words, the experiences and knowledge acquired were most rewarding and informative.”
He, therefore, advised members of the association to always consider the collective interest of the society first before individual interest in order to engender growth and development of the society.