CO-OPERATIVE CREDIT UNION OF CORPUS CHRISTI - 4C’s


Our Nature:

4cs credit union is a member owned, not–for-profit financial co-operative that provides savings and credit services to its members. The credit union provides members with opportunities to accumulate wealth, create jobs and plan their development through proactive savings and credit support services.

The Credit Union has it vision to become the is to become the best within the Catholic Community in the Accra Archdiocese and the best in the Tema Region of CUA.

 

WHAT WE OFFER

a. Shares:

share is a compulsory member requirement. It serves as a member’ basic contribution to the establishment of the union that give the right to part ownership. Every member is required to obtain at least the minimum share capital of the society within a maximum period of six months.

The minimum share is GHS100.00

The share earns the member dividend when profit is declared.

b. Savings

This is the member’s regular deposit of cash into his or her account.
The minimum savings is GHS10.00
Every member is required to save at least once a month.
A member’s savings earns him/her interest – currently at the rate of 5% per annum
A members Savings can serve as a collateral for his/her loan or another member’s loan.

c. 4Cs Fixed Deposit

This is an investment of amount of GHC 1,000 or multiples of it.
For a period of 91 days or multiples of 91 days.

Interest on fixed deposit; normally the Ghana government Treasury Bill rate plus 1 point or more - depending on the amount.

d. Loan

We give loans to member to help them in meeting their varied financial obligations.
To qualify for a loan a member should have save for six months with the Union.
In granting the loan we consider among other factor:

  • A member’s Savings pattern
  • A members Savings Balance
  • Purpose of the Loan
  • Previous Loan management

Collateral for the Loan

Normally we demand the one uses their own balance and the support of the balance of another members Savings balance to secure the Loan.
The loan application process involves:
Obtain and Complete the Loan Application form
Submit this to the Manager by Friday and pick approval cheque on Tuesday
The application is vetted by the Loan Committee who may invite applicant for a discussion.
4C’s Loans like all Credit Union Loans are very flexible:
Loan Applications are approved within a maximum three days normally we receive Loan by Friday and issue our cheques on approval by Tuesdays.

On approval members are issued with approval letter
Approval letter is in duplicate and applicants should acknowledge receipt

 

Charges

1% Loan Processing Fee
3% Interest per month or
19.5% per annum all on the reducing balance
Insurance on the loan against death or any serious condition that may incapacitate a member.<br/><br/>

Affiliation and Registration

The 4cs credit union is affiliated to the Ghana Co-operatives Credit Unions Association (CUA) Limited and duly registered by the Department of Co-operatives (DOC). Our operation are therefore guided by the co-operative law of Ghana (NLCD) 252 of 1968.

 

Our Office

The office of the 4cs credit union is located in the premises of the Corpus Christi Catholic Church, Sakumono, Tema.

 

WORKING HOURS

 Monday to Friday 8:30 a.m -4:30 p.m
Sarturdays  -  Closed
Sundays from 9:30 a.m-1:00pm