Products & Services

SHARES

The Share Account at Resurrection Methodist Cooperative Credit Union (RMCCU) represents your ownership in the Union. By purchasing shares, you become a co-owner, not just a customer, giving you the right to participate in decision-making and benefit from the Union’s growth. Shares form a key part of RMCCU’s financial strength, contributing to its solid asset base of over GHS 6 million and supporting its growing membership of 700+ members in the Adenta community.

Shares are a long-term investment and are not withdrawable on demand, ensuring stability for both members and the institution. They earn annual dividends based on the Union’s performance and also serve as collateral for loans, improving your borrowing capacity at competitive rates (currently 15.6% per annum). In addition, shares complement your savings, which earn 10% per annum, helping you build a strong and disciplined financial foundation.

Beyond personal benefits, your shares contribute to the collective success of the credit union by funding loans for other members and promoting economic empowerment within the community. As a member-owner, you enjoy equal voting rights, participate in Annual General Meetings, and help shape the future of RMCCU. Simply put, the more shares you build, the stronger your stake—and the greater your benefits—in a trusted, community-focused financial institution.

SAVINGS

SAVING PRODUCTS

ME DAAKYE SAVINGS:

This product is designed for parents who would like to save for their children till they attain the maturity age of 18 years. Children who would also like to save can do so.

Account limitation: No withdrawal until ward is 18years and presents a national ID.

Interest Rate: This account attracts an annual interest rate of 11% until further reviewed.

EDUCARE SAVINGS:

This product is designed for parents who would like to save for their children’s education. Savings is gradually paid until it is time to pay school fees. 

Account Limitation: Withdrawal is approved upon presentation of the bill of the child in question.

Interest Rate: This account attracts an annual interest rate of 10%.

PROJECT SAVINGS:

This product is designed for individuals who would like to save on a long term for any project they want to embark on, such as buying a car, building a house, acquiring a land, travel, wedding. Members will be required to save between a minimum of one(1) year and maximum of five(5) years depending on the project involved.

Account Limitation: No withdrawal until account is one year old.

Interest Rate: This account attracts an annual interest rate of 11% until further reviewed.

NORMAL SAVINGS:

This is a flexible multipurpose savings account which can be kept for emergencies, normal day-to-day operations. You can save and withdraw at any time. 

Account Limitation: Withdrawal is done at any convenient time.

Interest Rate: This account attracts an annual interest rate of 10% until further reviewed.

LOANS

Welcome to our Credit Union loan services. Our loan products are designed to support members’ personal, educational, and business needs with flexible repayment options and affordable interest rates.

All loans are granted subject to approval and in line with responsible lending practices and Ghana’s Borrowers and Lenders Act, 2020 (Act 1052).

LOAN PRODUCTS

MULTIPURPOSE LOAN:

Flexible financing for everyday needs.

The Multipurpose Loan is designed to help members meet a wide range of financial needs quickly and conveniently.

Suitable For:

  1. Personal and family expenses
  2. Rent payments
  3. Transport and vehicle-related needs
  4. Medical expenses
  5. Small business support
  6. Other approved purposes

Key Features

  1. Interest Rate: 19.5% per annum
  2. Flexible usage
  3. Affordable monthly repayment plans
  4. Early repayment allowed (terms apply)
  5. Typical Repayment Period
  6. Up to 24 months, depending on loan amount and member eligibility.

BUSINESS LOAN

Supporting entrepreneurship and income growth.

The Business Loan is tailored for members engaged in income-generating activities who need funding to start or expand their businesses.

Suitable For:

  1. Business start-ups
  2. Business expansion
  3. Purchase of stock or raw materials
  4. Equipment acquisition
  5. Working capital support

Key Features

  1. Interest Rate: 19.5% per annum
  2. Structured repayment aligned with business cash flow
  3. Designed to promote business growth and sustainability
  4. Typical Repayment Period
  5. Up to 24 months, subject to assessment and approval.

EDUCARE LOAN

Helping members invest in education.

The Educare Loan assists members in paying academic expenses for themselves or their dependents, ensuring uninterrupted education.

Suitable For:

  1. School fees
  2. Tuition payments
  3. Examination fees
  4. Other approved academic expenses

Key Features

  1. Interest Rate: 19.5% per annum
  2. Quick processing for urgent academic payments
  3. Manageable repayment structure
  4. Typical Repayment Period
  5. Up to 18–24 months, depending on loan amount and eligibility.

PROJECT FINANCING LOAN

Long-term financing for major projects.

The Project Financing Loan is designed for members undertaking long-term projects that require larger funding and extended repayment flexibility.

Suitable For:

  1. Long-term business or income-generating projects
  2. Construction or property improvement projects
  3. Major asset acquisition
  4. Structured projects with predictable cash flow

Key Features:

  1. Interest Rate: 19.5% per annum
  2. Extended repayment period for long-term affordability
  3. Structured repayment plan aligned with project cash flow
  4. Maximum Repayment Period
  5. Up to 3 years (36 months), subject to assessment and approval.

GENERAL ELIGIBILITY REQUIREMENTS

To apply for a loan, members must:

  1. Be an active member in good standing
  2. Maintain regular savings with the Credit Union
  3. Demonstrate ability to repay the loan
  4. Provide guarantors or collateral where required
  5. Complete the approved loan application process

RESPONSIBLE LENDING COMMITMENTS

Our Credit Union is committed to transparent and responsible lending. Members receive clear information on loan terms, repayment schedules, and total cost of credit before approval.

All loans are processed fairly and professionally in accordance with Ghanaian financial regulations and Credit Union best practices.

APPLY FOR A LOAN

Members can apply by visiting our office or contacting us through our official communication channels. Our team will guide you through the application and approval process.

 

Empowering members through affordable financial solutions.

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