Overview

Controller and Accountant-General’s Employees Co-operative Credit Union (CAGECCU), Walakataka street, Kuku Hill -Osu, prides itself as being the most viable Credit Union in the country. The Credit Union generally known as CAGECCU is an organisation of people who save together and lend to each other at an affordable rate of interest. It is owned by members and administered by volunteers (committees and Board of Directors) from the membership. Each member has an equal say in the running of the Credit Union, irrespective of how much savings or shares he or she holds. CAGECCU is regulated by the Department of Co-operatives under the umbrella of the Central Bank of Ghana. The CAGECCU adopts operating principles with core values of equality, equity and mutual self-help. Each member has the right to see how the Credit Union is being run and how it is performing. Members are entitled to information on the accounts of the Credit Union, as well as the names of Credit Union employees, Management Board and Committee Members. However, the Credit Union staff and voluntary workers are obliged to keep confidentiality of the information on members’ accounts. Each member has only one vote, which can be exercised at the Annual General Meeting (AGM). Members at the AGM also elect the Management Board, the Supervisory Committee and the Loan Committee members. Only members are eligible for election to the Board and Committees. They are voluntary positions and holders do not receive payments. The Controller and Accountant-General’s Employees Co-operative Credit Union (CAGECCU) has gone through several evolutionary stages. Significant achievements have been made in the past. The Controller and Accountant-General’s Employees Co-operative Credit Union (CAGECCU) was formed on August 6, 1971. The Union was affiliated to the Credit Unions National Association (CUA) Ltd. on December 13, 1986. It moved gradually from a modest beginning to its current membership of Five Thousand Six Hundred.