FAQ’s

Frequently Asked Questions

How do I become a member of Nkabom CCU?

Become a member by completing a membership form.
Where do I register to become a member of Nkabom CCU?

You can register through our mobile bankers or visit our banking halls at any branch to register
What benefits do I get for becoming a member of Nkabom CCU?

As a member of Nkabom CCU, your savings/susu are secured, earn good interest on savings. You are entitled to a loan at a very low interest rate and enjoy souvenir
Is Nkabom CCU registered?

Yes, Nkabom CCU is registered under the Department of Co-operatives and also registered with the Ghana Cooperative Credit Union Association (CUA)
Is it compulsory to be a Shareholder of Nkabom CCU?

It is not compulsory to be a shareholder, but it is a requirement to qualify for a loan from Nkabom CCU
What benefit do I get for holding shares with Nkabom CCU?

Shareholding benefits include - Enjoying share of end of year profit/dividend when declared - Able to access loans from Nkabom CCU - Have a say on the appointment of the executive board of Nkabom CCU
Who qualifies for a loan from Nkabom CCU?

A registered member with continuous savings for not less than 3 months and minimum Shares of 40
How much loan can Nkabom CCU offer me?

The amount of loan we offer depends on your savings.

Is Nkabom CCU recognized by Bank of Ghana?

Yes, the Bank of Ghana has mandated Co-operatives Credit Union Association (CUA) to regulate activities of all Cooperative Credit Unions in Ghana. As a result, as Nkabom CCU is a member of CUA, we are recognized by the Bank of Ghana
Who owns Nkabom CCU?

Members with minimum shares of 20 are automatic owners of Nkabom CCU. Hence, Nkabom CCU is owned by all shareholders.
What type of Credit Union is Nkabom CCU?

Nkabom CCU is a community base Credit Union.
What is Nkabom Share?

Nkabom Share is a unit of Nkabom that every member of Nkabom is expected to subscribe to become a part owner of Nkabom CCU. Value per unit of Share is Ghc5.00
How do I become a shareholder?

You can become a shareholder of Nkabom by buying/subscribing to a minimum of 20 shares at the monetary value of GH¢5.00 per share
Can I withdraw my shares if i am no more interested?

Yes, but it requires to give a 90 days (3months notice)
Can i become a shareholder while not a member?

No. All shareholders are members of Nkabom CCU
Do I have to provide land property as collateral before i can be offered a loan?

No. Nkabom CCU doesn't take property collateral to grant loan
What's the interest rate on loan from Nkabom?

Nkabom offers several loans with different interest rates ranging from 1.5% to 3% per month in a reducing balance method

We boast of over 1000 memberships within a three month space of operation and the growth rate keeps counting.