Loan Services
Fixed Deposites
Savings
Shares
Mobile Banking
Fixed Deposites
This is an investment account where money is deposited for a fixed period of either 3months, 6months, 1year or more.
Features
- Only members of the credit union can put their money in this account.
- interest rate are negotiable depending on the quantum of the amount one wish to deposit
Loan Services
Fixed Deposites
Savings
Shares
Mobile Banking
Fixed Deposites
This is an investment account where money is deposited for a fixed period of either 3months, 6months, 1year or more.
Features
- Only members of the credit union can put their money in this account.
- interest rate are negotiable depending on the quantum of the amount one wish to deposit
Loan Services
Fixed Deposites
Savings
Shares
Mobile Banking
Savings
Members of the credit union shall deposit at least 20 cedis in their savings account regularly. The savings shall attract interest on quarterly basis. A members savings of less than 100cedis shall not attract interest.
Youth Savings
The credit union operate youth savings under the following conditions:
- The account may be opened in the name of the child from birth to age eighteen (18)
- The account shall not attract shares
- The account shall attract entrance fee as decided by the board
- Three passport size photographs of the child must be provided.
- The account shall attract an interest as any other normal savings account
Loan Services
Fixed Deposites
Savings
Shares
Mobile Banking
Shares
To the minimum share capital requirements upon registration, each member of the credit union is thereby recognized as a partial owner, entitled to all privileges and benefits accorded to credit union members. This shared ownership fosters a sense of community and collective responsibility among members.
To facilitate membership, a stipulated minimum share capital of 200.00 Gh cedis is established, serving as a baseline financial commitment for individuals seeking to join the credit union. This amount ensures that members contribute equitably to the cooperative’s capital base, reinforcing the financial strength and stability of the credit union as a whole.
Furthermore, the shares held by members are not just a financial commitment; they represent a form of investment. At the close of each financial year, dividends may be allocated based on the decision made during the Annual General Meeting. This dividend distribution is a reflection of the credit union’s financial performance, and members benefit directly from the success and prosperity of the cooperative.
Features
It is essential to note that individuals who do not meet the prescribed minimum share capital requirements cannot be considered members of the credit union. This requirement underscores the cooperative nature of the institution, emphasizing the importance of collective financial participation for the mutual benefit of all members.
Loan Services
Fixed Deposites
Savings
Shares
Mobile Banking
Mobile Banking
This is the traditional daily susu collections. Mobile bankers go to the member’s various work places to collect their money on daily basis. Susu alone can not make one a member of the credit union and hence cannot enjoy membership rights likes loans or attending AGM until such a person subscribe to the minimum shares and open savings account. Susu does not attract interest.