ABUJA, Mar 30 – The ECOWAS Staff Mutual Credit Union raised its annual dividend by 11% after reporting a 13% increase in wealth creation, reflecting stronger earnings and balance sheet growth over the past year.
Members approved the payout at the union’s annual general meeting, where financial statements were endorsed and new service lines unveiled. The cooperative, which serves employees of the Economic Community of West African States, has expanded its role as a financial backstop for staff through savings and loan products.
The meeting took place against a shifting regional backdrop. Officials from the ECOWAS Commission noted ongoing institutional adjustments following the withdrawal of Mali, Burkina Faso and Niger from the bloc and the formation of the Alliance of Sahel States, developments that continue to weigh on operations across ECOWAS bodies.
Alongside its financial results, the union introduced a digital platform that allows members earning in foreign currency to save and receive dividends in US dollars. The move marks a departure from the CFA franc-only structure and is expected to broaden participation among staff paid outside the franc zone.
It also launched ECOMART, a retail service offering bulk purchases through salary-backed instalments. The scheme enables members to access goods with deferred payments, with delivery typically completed within three to five days.
Officials said the additions reflect a shift towards more flexible, welfare-oriented financial services, as staff face rising costs and a more uncertain regional environment. The union plans to expand digital offerings further while maintaining its focus on member savings, credit access and financial stability.
