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History & governance

Half a century of member-owned finance — from a staff-room idea at CUA to the happy family of Accra.

Started in 1972, open to all

The KAMCCU Credit Union was started in 1972, originally with members of staff of Ghana Co-operative Credit Unions Association (CUA) Ltd. as the nucleus. It began to open up to the neighbourhood and the community in the early nineties and now has members from all over Accra and beyond. All manner of persons, including children, can be members.

The credit union holds General Meetings with the members annually, where all members are expected to attend and partake in the discussions. It is governed by the committee system, elected from the general membership at the General Meetings. These are the Board of Directors, the Loans and Supervisory committees.

Mission

KAMCCU Co-operative Credit Union Limited is a financial co-operative institution with membership from the Accra Metropolis and its environs. Its purpose is to offer competitive financial services to its members so as to improve upon their standards of living.

The bigger story

Credit union development in Ghana

The first credit union in Ghana — and on the African soil — was formed at Jirapa in the Upper West Region in 1955. Rev. Father John MacNaulty, an Irish-Canadian priest with the Roman Catholic Church, originated the idea. The credit union was successful and had an initial membership of 40 people.

The then Bishop of Wa, now Archbishop Emeritus P. P. Derry, found solace in the idea and encouraged other Catholic churches in the northern sector and other parts of the country to embrace the concept. The idea began to spread to other sectors within the country — communities and workplaces — so much so that by 1968, a national association, now CUA Ltd., was formed at a conference in Tamale, in the Northern Region.

"One small union of 40 people at Jirapa grew into a national movement — and KAMCCU is part of that story."

Be part of the next chapter

Membership is open to everyone in Accra and beyond — including children.

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