Savings Account
Saving with CCCU
CCCU recognizes the importance of preparing for the future, and we’re here to assist you in reaching your financial objectives. Whether you’re saving for a home, vehicle or a dream business, we offer a savings account that suits your needs.
You can easily start saving with our Savings Account, which features convenient monthly deductions for Government workers. Additional, contributions can be made through the Field cashiers or using our available Mobile Money line (0247017331) or by visiting our offices. Interest is credited to your account every quarter, with rates set by our Board of Directors.
Securing Your Savings
Credit Unions in Ghana benefit from the Deposit Protection Scheme managed by the CUA. This scheme offers financial compensation to depositors if a credit union faces insolvency. Under this program, credit unions must set aside approximately 0.02% of their members’ total savings as a reserve. This ensures that members can have confidence in the safety of their savings and any interest accrued.
Savings Policies
The Board of Directors will periodically set the interest rate on savings, which is paid quarterly.
Withdrawals from savings are not permitted if the funds are frozen as collateral for a loan or if the member’s debt exceeds their savings balance.