Controller and Accountant-General Employees Co-operative Credit Union (CAGECCU) loans are designed to meet the needs of our members. Our loans are designed for members that need to access funds to finance building, home improvement projects, businesses, funeral, medical, and other items. Our loans are also available for purposes such as personal or business travel, education expenses, medical expenses, debt consolidation and more.

You can save while servicing your loan. You can borrow an agreed amount for a future investment and use the deposited funds as security for the loan. We give members a higher rate of interest on the deposited funds to maximize the savings benefit. Our loans are offered repayment on the reducing balance basis. As your outstanding balance decreases, you can access additional funds up to your maximum limit.

A member can access 2.5 times his or her accumulated savings as loans subject to his or her repayment ability. Members could apply for new loans whiles servicing the old loan.

Repayment for facilities above GH¢19,999.00 is thirty-six months and amounts below is twenty four to thirty months. The interest rate on loan is 2.25% per month on the diminishing balance.

Call or come in and speak with any of our officers to find out more on our loans. If you have any questions or queries, please feel free to give us a call, pass by the Union’s office or send us an email and one of our member care officers will be happy to assist you.

As a member of the Credit Union, you benefit from owning shares in the Credit Union and also start planning for your retirement.

It is never too early or too late for you to put a retirement plan in place and begin saving towards your “Golden Years”.

SHAREHOLDING

This entitles you to full membership with the Credit Union well as ability to exercise your membership right to vote at the Yearly General Meeting.

FLEXIBILITY OF THE SCHEME

You decide how much to contribute and the frequency of contribution, a minimum of Ghc 500. This can be lump sum or monthly source deductions.

PAYMENT OF DIVIDENDS

Deposits into this account will earn dividends which are paid annually as proposed by the Credit Union’s Board of Directors and approved by the members at the Annual General Meeting. However, this is dependent on the Credit Union’s financial performance.

Dividend paid in the past four years has been higher than the Annual Treasury Bill rate.

You can use shares as part of Pension’s savings since this can only be withdrawn when one retires or is closing his/her account with the Union.