FAQs
1. Membership
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How can I become a member of the Credit Union?
You can become a member by acquiring the minimum shares of GH₵ 300. 00. Visit our branch in Caprice with a valid Ghana card, a passport picture, and a completed membership application form.
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What are the benefits of joining the Credit Union?
Members enjoy benefits such as higher interest rates on savings, lower interest rates on loans, financial education programs, and a community-focused approach to financial services, which is entirely focused on your financial well-being.
2. Savings
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We offer regular savings accounts, fixed deposit accounts, and children's savings accounts
We offer regular savings accounts, fixed deposit accounts, and children's savings accounts
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What interest rates do you offer on savings?
Interest rates vary depending on the type of account and the amount deposited. Please contact us or visit our branch for the latest rates.
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How can I deposit money into my savings account?
Deposits can be made in person at our branch, through mobile banking, or via direct bank transfer or mobile money.
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Are there any penalties for withdrawing from my savings account early?
No, there are no penalties for early withdrawals.
3. Loans
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What types of loans are available?
We offer personal loans, business loans, educational loans, and emergency loans.
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What are the interest rates and repayment terms for loans?
Interest rates and repayment terms vary by loan type. Please visit our branch or contact us for detailed information.
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How do I apply for a loan?
You can apply for a loan by visiting our branch with a completed loan application form, proof of income, and any other required documents.
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What documents are required for a loan application?
Required documents typically include; a valid Ghana card, savings balance and pattern, minimum share balance, a guarantor and a completed loan application form. Additional documents may be needed depending on the loan type.
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How long does it take to get a loan approved?
Loan approval time varies, but it generally takes between 5 business days after submitting a complete application
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How long must I save with SPaKCCU before I can access loan?
It depends on the type of loan product one wants to access. However, the savings period ranges from ONE month to SIX months.
4. General
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Is SPaKCCU recognized by Bank of Ghana (BOG)?
Yes. SPaKCCU is affiliated to Ghana Co-operatives Credit Unions Association (CUA) and registered by Department of Co-operatives (DOC). SPaKCCU is supervised and audited by both DOC and CUA who are empowered by BOG.
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Can I save with SPaKCCU without acquiring the minimum shares?
Yes. However, you have up to six months to acquire the minimum shares.
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Is acquisition of shares compulsory?
Yes. It makes you a full member of SPaKCCU who will enjoy all the benefits entitled to a member as prescribed in the policies.
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Does SPaKCCU provide SMS alerts on transactions?
Yes. Members receive SMS alerts on all their transactions.
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Can a mobile banker be assigned to me to collect my money on a daily basis?
Yes, by making us aware of your location we can assign a mobile banker to you for the daily collection of your income
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How is my money protected in the Credit Union?
Your money is protected through our adherence to regulatory requirements and our participation in deposit insurance schemes.
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How can I contact customer service for assistance?
You can contact our customer service via phone at 054-449-9195 , by email at support@spakccu.com, or by visiting our branch.