Frequently asked questions
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Membership
Who can become a member?
Individuals aged 18 and above who live, work or worship within our area of operation (our common bond). Children under 18 can save through a Youth Savings account opened by a parent or guardian.
How much does it cost to join?
A minimum share purchase of GH₵500 plus a GH₵20 entrance fee.
What do I need to bring?
A completed membership form, a valid ID (Ghana Card, Passport, Voter's ID or Driver's Licence) and 2 passport-size photographs. See how to join.
Do you offer business or group accounts?
Yes. Business, group and joint accounts are available. Signatories, mandates and nominees are completed in person at the branch.
Savings & fixed deposits
How does susu collection work?
A trusted field officer visits you daily, at your home or stall, to collect your contributions. There is no minimum balance to start, and your contribution history can help you qualify for a Susu Loan.
What are the fixed deposit rates?
2% p.a. for 91 days, 3% p.a. for 182 days and 4% p.a. for 365 days, on deposits from GH₵2,000 to GH₵1,000,000 (rates effective 27 April 2026). Use the fixed deposit calculator to see your maturity value.
Can I withdraw a fixed deposit early?
Early withdrawal before maturity is subject to our early-withdrawal terms and may reduce the interest earned. Speak to any branch first.
How are dividends paid?
Dividends are declared annually based on performance and approved by members at the AGM.
Loans
How much can I borrow?
It depends on the loan: from 100% of your savings (Loan Within Savings) up to 5× your savings (Business Loan). Salary loans are sized so repayments stay within 40% of your net salary. Try the loan calculator.
When can I take my first loan?
For most loans you need to have maintained a minimum savings balance for at least 3 months and have no default on an existing loan.
Do I need a guarantor?
Normal, Long Term and Business loans need at least one acceptable guarantor who is also a member. Loan Within Savings is secured by your own savings.
What is the difference between reducing balance and straight-line interest?
With reducing balance, interest is charged only on what you still owe, so the interest part of each repayment falls over time. With straight-line, interest is charged on the original loan amount every month. Susu and Emergency loans use straight-line; most others use reducing balance.
AGM & governance
When is the AGM?
December 2026. The date and venue will be announced in the official Notice of AGM. See the AGM 2026 hub.
Who regulates SMDPCCU?
We are a member of the Credit Union Association of Ghana (CUA Ghana) and operate under its regulatory oversight.