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1. The Credit Union shall be required to have a minimum membership of 150 with a potential membership of not less than 600.

2. Founding members shall undergo a Credit Union member educational program for a period of not less than three months with personnel from CUA/DOC.

3. Members of such societies shall be required to pay an entrance fee of not less than five Ghana Cedis (GH¢ 5.00).

4. Members in the Credit Union shall be required to save not less than five Ghana Cedis (GH¢ 5.00) per month.

5. Societies will be required to have permanent offices to operate from, with the Credit Union’s signboard and business hours properly written and conspicuously placed.

6. The society shall engage the services of an officer, Manager/Bookkeeper who will be trained to maintain accurate records.

7. Before a new society is affiliated with CUA, CUA shall conduct a feasibility study to ascertain that the conditions surrounding the formation of the society prove that the society will be viable.

8. Affiliation of a society shall be effected by CUA when the society has accumulated savings of Fifteen Thousand Ghana Cedis (GH¢ 15,000.00) and above.

9. Societies seeking affiliation shall be confirmed by their financial statement that all members in the credit union have purchased a minimum share of not less than one hundred Ghana Cedis (GH¢ 100.00) per member in the society.

10. After affiliation, CUA will conduct economic survey on such societies before recommending them to the Registrar of Co-Operatives for registration.

11. All societies seeking affiliation shall pay an affiliation fee of fifty Ghana Cedis (GH¢ 50.00) as determined from time to time by CUA.

12. A society accepted for affiliation shall be required to purchase a minimum share of five hundred Ghana Cedis
(GH¢ 500.00) in CUA.

13. Societies seeking affiliation to CUA must have saved at least five per cent (5%) of their total funds in CUA’s CFF (Central Finance Facility) and shall continue to save not less five per cent (5%) of their total funds at any point in time.

14. Societies seeking affiliation to CUA must satisfy CUA that they are part of the Risk Management Program or arrangements have been made to become a member of the Program.

15. Affiliated societies shall contribute an agreed percentage of the total savings of members as at June every year, into the CUA Stabilization Fund.

16. No society shall be required to print its own stationery.



August, 2013