Copyright © 2024. All rights reserved.
Overview of PHCCU Savings
PHCCU appreciates the need to set funds aside for future use and we can help do that. Whether, towards buying your own home or building, school fees, car.PHCCU has the right savings account for you.
Start saving towards your financial goals with our Savings Account. This is a regular monthly source deduction. Extra regular contributions may be made into one account either through the USSD short code or by walk-in. Interest on our Savings Account is paid every quarter and the rate of interest is determined by the Board of Directors.
The Union provides the opportunity for members to save. With a minimum of GHS 100.00, a member can save.
Protection for your Savings
Credit Unions in Ghana are covered by the Deposit Protection Scheme (stabilization fund) which is administered by the CUA. This is a scheme that can provide compensation to depositors if the credit institution is forced to go out of business. Currently, with the scheme, Credit Unions are required to reserve an average of about 0.02% of members’ total savings.
With this, members can rest assured their savings and all interests earned are secured.
Savings Policies
- Savings cannot be withdrawn if they are frozen to guarantee a loan neither can savings be withdrawn if the member’s indebtedness is greater than the member’s savings.
- Quarterly Interest on savings shall be determined by the Board of Directors from time to time.
Police Hospital Co-operative Credit Union
Police Hospital Co-operative Credit Union (PHCCU) has expanded its common bond, now welcoming all police officers in Ghana into its fold.