How Create Group bank Account in Credit union Cameroon


How Create Group Account in Credit union Cameroon

How to create bank account for group in Cameroon Credit union
Hand Saving money in Bank

Credit unions in Cameroon under Cameroon Cooperative Credit union League (Camccul) have made it possible for groups to create their group accounts cheaper. 

Local groups such as Njangi initiative usually face problems during their year end meetings when they ask those keeping their little savings and it is not available. 

Groups like Njangi initiative, Social groups, Foundations and other Credit unions can create their accounts easily to do their transactions and also benefit from some services such as taking a group loan ( Njangi Finance) Securing their money and avoiding keeping money without any financial institutions which is a crime.

Also read: how to create a member Account in Credit union Cameroon

Creating a group account with another Credit union in Cameroon is similar to Creating a normal account. With no further ado let's get started.

{getToc} $title={Table of Contents}

Importance of Creating group account in Cameroon

  • Finance the group via Njangi Finance

  • Secure the funds 

  • Gain interest on savings

    • Boost savings within the group

Documents required to create Group Account in Credit union

  • Photocopy of minutes of Exco or General Assembly agreeing to Create account

  • Photocopy of groups permit with permission number or Id cards of President, treasurer and the Secretary General.

  • Photocopy of of ID cards of signatories

  • Letter containing names of the Signatories and Conditions to withdraw and save money.

  • 4 Passport size photo of Signatories ( not compulsory when starting) 

  • Amount of Money to Create the account.

Steps to Create Group Account in Credit union

Move to Any Credit union decided by the group. Remember some Big Credit unions have Bigger share amount. Join Ashong Cooperative Credit union if you are interested in cheaper shares.

Meet the Members service department to direct you to the right places.

Create your account and get a passbook, cheque booklet , bylaws and Loan policy.

To create a full account Range from 25000frs to 10000frs in Cameroon Credit union today. Check the amount to Create in Ashong Cooperative Credit union LTD ( ASHCCUL) below.

cost to get  Group account in ASHCCUL

  • Share = 25000FCFA.

  • Building fee = 5000FCFA.

  • Entrance fee = 4000FCFA.

  • Stationary ( Passbook, Cheque booklet and Loan Policy) = 3000FCFA.

 Total = 37000FCFA

In case you wish to close your account, your shares shall be given to you. So, it is actually 12000FCFA to create an account

Do you belong to any group and want the group to create an account? Contact us

Post a Comment


Post a Comment (0)