Our Products

Shares represent a member’s ownership in the Credit Union. By purchasing shares, members become co-owners and have the right to participate in decision-making through voting at General Meetings. Shares also serve as a basis for determining borrowing capacity and entitle members to dividends when declared. Investing in shares strengthens the Credit Union capital base. The Cooperative Law NLCD 252 of 1968 requires members to subscribe to at least the minimum shares.

Ownership: Every member must own minimum shares when opening an account.

Flexibility: Members can purchase more shares at any time.

Dividend: Attractive annual dividends, with rates set at the Annual General Meeting.

Usage: Shares can be pledged for loans and dividends can be reinvested.

Restrictions: Shares cannot be withdrawn below the minimum unless resigning membership.

Savings accounts provide members with a safe and convenient way to set aside money to meet future needs. Regular savings encourage financial discipline and build a strong saving culture among members. Savings also serve as security for loans and earn interest on quarterly basis. Members may withdraw their savings from time to time to meet their financial needs while following the Credit Union’s savings policies. It is the habit of setting aside part of one’s income or profit earn today for future use. It does not depend one’s level of income.

• Interest: High interest paid quarterly.
• Types of Accounts:
  • Personal Savings: For individuals.
  • Group/Corporate Accounts: For groups, organizations, societies, and churches.
  • Kiki Savings: For children to encourage savings and financial literacy training.

The Credit Union offers affordable and flexible loan products to meet members’ personal, business, educational, and emergency needs. The Credit Union also run a microfinance loan product for women groups without required of any collateral. Loans are granted at competitive interest rates with convenient repayment terms. Access to loans is based on a member’s savings and shareholding, repayment capacity, and compliance with Credit Union lending policies. The loan facility is designed to improve members’ livelihoods and economic well-being. It is an amount of money that a person borrows from a person or organisation and agrees to pay back with interest within a specific period of time.

Controller and Accountant General Deductions
This is where savings or loan repayments are deducted from members on government payroll.

• Loan Eligibility: Requires at least 3 months of membership.
• Savings Requirement: Monthly deduction determines the amount of loan one is qualified loan amount eligibility.
• Convenience: Facilitates direct deductions for savings and loan repayment through Controller and Accountant General’s Department.

• Interest Rate: Low 3% monthly on reducing balance.
• Repayment: Flexible terms of weekly or monthly.
• Purpose: For business, projects, vehicles, or homeownership.
• Impact: Loans have supported visible community development and member empowerment.

Microfinance Loans
This is a loan product designed for the purpose of disbursing to women groups.

• Target Group: Groups with similar businesses or cash flow patterns.
• Eligibility: Must operate a microfinance account or graduated to open an individual account from the group account.
• Distribution: Loans granted is based on individual savings habits, punctuality, and repayment record.

Fixed Deposit accounts allow members to invest lump sums for a fixed period at attractive interest rates. Funds are locked in for the agreed duration, enabling depositors to earn higher returns compared to regular savings.

The Credit Union provides mobile money transfer services to facilitate quick, safe, and convenient financial transactions. Members can deposit, withdraw, and transfer funds using mobile money platforms without visiting the office. This service enhances accessibility, reduces transaction time, and promotes financial inclusion, especially for members in remote areas.

• MTN Mobile Money platform.
• Service: Send and receive money anywhere in Ghana.
• Convenience: Members can pay loans and save remotely.
• Access: Service is available to non-account holders as well.