BSLCCU Welcome Message
The work of the Black Star Line Cooperative Credit Union (BSLCCU) since its inception in 2009 has included a focus on fostering an economic reawakening among Pan Africans. Through our own effort and initiative, we have organized ourselves into a credit union for the purpose of creating...
Marcus Garvey's Dream Fulfilled
Marcus Garvey had a dream, Martin Luther King had a dream and each of us has a dream. The Rt. Hon Marcus Garvey set out to economically empower the African people in the diaspora. He therefore established the United Negro Improvement...
1. To promote financial self empowerment of members at home and abroad.
2. To advance the Pan African agenda by pooling resources.
3. To provide independent financing...
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Ghana Contact: D Cover (Deecee) +233 (0) 505 773 535
USA Contact: D. Danville (Jawara) 646...
Junior Saving Portfolio
JUNIOR’S PORTFOLIO CRITERIA
+ Parents/Guardian must be a member and shareholder
+ Copy of child’s birth certificate
JUNIOR’S PORTFOLIO BENEFITS
+ No registration fees
+ Interest on savings is calculated from day one
+ 5% interest on savings
+ Quarterly interest added to account
BSLCCU INVESTMENT PORTFOLIO QUALIFICATION
+ Must be a shareholder
+ Invest a minimum of 1000GHc (approx. £188)
+ Must invest for a minimum of 91 days period
Guaranteed up to 20% on investment
+ Minimum of 91 days investment period
+ Choice of taking the interest on investment, or
+ Accumulate interest to capital
LOAN PORTFOLIO CRITERIA
+ Member must be a Shareholder
+ Must be saving continually for 12 weeks/3 months
+ First loan 100% of savings
+ Second loan 200% of saving including collateral
+ Third loan 300% of saving including collateral
+ Loan cannot be taken to pay off another loan
LOAN PORTFOLIO BENEFITS
+ 2% interest on depreciating amount
+ Lower than any high street bank
+ Encouraged to save whilst paying for loan
Saving And Shares
SAVINGS and SHARES CRITERIA
+ Two Passport photos (for identification)
+ Registration fee 10 GHc (£2.0)
+ Purchase a minimum of one BSLCCU share@ 100GHc (£20)
+ Regular saving (10GHc per month)
SAVING and SHARES BENEFITS
+ 5% interest on savings from day one
+ A higher yield than your local bank
+ Opportunity to apply for a loan
+ Dividend payment from end of years profit on Shares owned
BSLCCU BYE LAWS
Bye Laws and articles of Association Of BSLCCU
Vision: “Pan African based union that seeks to change positively the life of people in the society.”
Mission: “Pan African based union that seeks to bring social and economic relief to members and their families through the provision of financial credit.”
PART I – PRELIMINARY
In these bye-laws, unless the context otherwise requires “Decree” means the cooperative societies Decree NLCD 252 of 1968 and Regulation of 1968 and such Amendment as apply from time to time where no Express mention is made, these bye laws are meant to be read subject to such Decree, regulations and their Amendments.
Bye laws: Means the registered Bye laws of the society.
Registrar: Means the Registrar of Co-operative Societies.
The Name of the Society shall be BLACK STAR LINE CO-OPERATIVE CREDIT UNION (BSLCCU).
Its area of operation shall be in Ghana, USA, Europe and UK etc.
The objects of the Society are:
To promote self-help savings habits among members of the union.
To provide loans to its members for Provident or productive purposes at fair and competitive rate of interest.
To provide quality financial services to its members
To obtain financial assistance from governmental and non governmental agencies to increase our operational capital to support the income generating activities that will lead to better the life of members.
PART II – GENERAL PROVISIONS
4. FUNDS OF SOCIETY
The funds of the society shall be derived from
Loans to the Society
5. OTHER FUNDS
The society shall maintain such other funds from its net surplus as it may deem necessary.
6. REGULAR SAVINGS
Members of the Society shall save regularly.
Each member will be committed to pay a fixed or variable amount daily, weekly or monthly in the savings accounts.
The savings amount will serve as collateral for loans. This means that the higher the amount of savings the higher the amount of loan that should be given and vice versa.
Members who cannot fulfill their obligation to save regularly must consult the Board of Directors.
7. MINIMUM SHARES
Every member must subscribe to a minimum share capital which shall be determined from time to time by the Board of Directors. No member shall be allowed to purchase shares exceeding 20% of the total share capital of the society. This amount can only be withdrawn on resignation and after given a minimum of 90 days notice in writing indicating the member’s intention to withdraw.
8. MAXIMUM SAVINGS
The saving of any one member in the balance column of the individual ledger card shall not exceed 20% of the total savings of the Society or as determined by the Board of Directors from time to time.
9. WITHDRAWAL OF SAVINGS
Savings may be withdrawn at the time when the office of the Society is open for business (as per its procedural system of withdrawal).
Amount exceeding the usual cash in hand of the Society can only be withdrawn after the three working days notice.
The savings could be withdrawn in part or in full.
10. RESTRICTION ON WITHDRAWAL
Savings cannot be withdrawn if they are frozen to guarantee a loan. Neither can savings be withdrawn if the member is indebted to the Society for any other reason.
11. DIVIDEND ON SHARES
Members may receive dividend on their shares at the end of the financial year, if so decided by the Annual General Meeting in accordance with paragraph 43(c) of these Bye-Laws.
12. LIABILITY OF MEMBERS
The liability of a member for debts of the Society shall be limited to the members’ share holding with the Society as determined in Paragraph 7.
13. FINANCIAL YEAR
The Financial year of the Society will begin on 1st July and will end on 30th of June each year.
14. ACCOUNTS AND BOOKS
The accounts of the society shall be kept on such books and in such form as may be approved from time to time by the registrar and by the Ghana Co-operative Credit Unions Association (CUA) Ltd.
15. REGISTER OF MEMBERS
A register shall be maintained (either manually or electronically, or both) at the registered office of the society, which shall contain:
The name and address of each member.
The date on which each member was admitted to the society membership.
The date on which a person ceased to be a Member.
Age and sex of the member.
Occupation of members.
16. SEAL OF THE SOCIETY
The society shall have a seal on which its name and registration number shall be engraved in legible characters with or without any other device, the whole of which shall have been approved by the registrar. The seal shall be in custody of the Manager and shall be used only by him/her, in the presence of the President or the Treasurer or the Assistant Treasurer and at least one elected committee member when directed by a resolution of the committee duly recorded in the minute’s book.
17. LOANS TO MEMBERS
The Society shall grant loans only to its members. At any given time the total of all loans to members shall not exceed 70% of the total assets of the Society or as determined by the Board of Directors or CUA from time to time.
18. PURPOSE OF LOANS
Loans shall be granted for any worthwhile purpose, productive or provident.
19. APPLICATION FOR LOANS
Application for loans must be in writing and on the prescribed forms.
20. LOANS TO NEW MEMBERS
For the first six (6) months of membership, members shall receive loans only to the extent of their savings.
21. LOANS MATURITY
A loan shall not be made by the credit union to a member for a period exceeding two (2) years commencing on the date on which the loan is paid to the member.
22. MAXIMUM LOANS TO INDIVIDUAL
The Board of Directors shall determine the maximum loan to be granted to a member from time to time, however, no individual shall be allowed to borrow more than 20% of the total savings of the society. Loans to members who cease to belong to the common bond shall be made to the extent of their savings except acceptable collateral can be provided.
23. SECURITY FOR LOANS
Loans shall be secured by the borrower’s own savings and if necessary, the savings of one or more members.
Remaining of a loan shall be determined from time to time by the Board of Directors.
The Guarantors shall indicate the amount of their Savings to be pledged as security for a loan.
Savings of a borrower or a guarantor pledged as security for a loan may be pledged as security for another loan only after such savings have been released as security for the first loan.
24. SECURITY FOR LOAN (WAGE ASSIGNMENT)
A wage assignment may be used as guarantee to a loan. A wage assignment is a written agreement between the borrower, the employer and credit union, for any amount of the employee’s salary pledge against any unpaid or overdue loan balance.
25. RELEASE OF SECURITY
When a loan is being repaid, the security pledged by the guarantor(s) is released in the presence of the borrower.
In case of more than one guarantor for a loan, after repayment of the loan, the pledged security would be released to the guarantors proportionately to the amount so guaranteed.
In case a wage assignment is used as a security, the guarantor(s) savings, if any are released first; the wage assignment is released next, and finally the borrower’s own savings.
26. INTEREST ON LOANS
Members shall be charged an interest on loans at market rates. However, the minimum interest rate to be charged shall be determined from time to time by the Credit Union Association (CUA).
27. COLLECTION OF LOANS
In case a loan is not repaid according to the terms of the loan bond, the borrower shall be liable to pay the collection expenses.
In case a loan is not repaid, according to the terms of the loan bond, the borrower may be liable to pay fines not exceeding 10% per annum on the unpaid balance.
28. INTEREST REBATE
Members may receive a rebate on interest paid on their loans at the end of the financial year, if so decided by the Annual General Meeting in accordance with Paragraph 43C of these bye laws.
29. POWER TO BORROW
The society shall have the power to borrow money up to 40% of its assets not already Pledged outside the Society.
30. INVESTMENT & DEPOSITORIES
All monies not needed for the day to day business of the society, shall be invested in any safe manner as provided for by paragraph 26 of the Decree.
All funds of the credit union, except for petty-cash, shall be deposited in the bank as the Board of Directors may from time to time designate and shall be so deposited not later than the second banking day after their receipt.
A petty cash fund shall be maintained by the Manager or the person designated by the Board of Directors for daily operations.
31. RESERVE FUND
The Society shall maintain a Reserve Fund, which shall serve to protect the Society in case of loss.
In case of loss the General Meeting Shall decide on the deposition of the Reserve Fund.
The Reserve Fund shall be credited with at least 25% of the Net Surplus at the end of each financial year. This fund shall not be less than the equivalent 10% of the total assets, subject to the approval of the Registrar.
The annual Statutory Reserve allocation of 25% of the Net Surplus shall be deposited with the CUA Central Finance Facility within three (3) months from the end of the financial year.
All cheques, or drafts and other obligations of the Society shall require two (2/3) signatories. The signatories shall be appointed by the Board of Directors.
33. PUBLICATION OF NAMES
Name of any person(s) empowered to receive or pay out cash on behalf of the Society shall be posted, preferably by a written notice at a conspicuous place in the office of the Society.
PART III – MEMBERSHIP
34. QUALIFICATION FOR MEMBERSHIP
Membership is open only to individuals, groups, entities, or associations, who are Pan Africans and or sympathizers to the Pan African course.
Membership is limited to persons/ institutions of good social and financial character.
35. APPLICATION FOR MEMBERSHIP
Application for membership shall be in writing on a prescribed form.
Application form shall state the name (s) of the person(s) to whom the shares / savings of the member shall be paid in the event of the Member’s death.
36. ADMISSION TO MEMBERSHIP
An applicant shall be admitted or readmitted to membership by 2/3 majority vote of the Board of Directors.
Membership shall only be effective when:
The membership application has been approved by the Board of Directors.
The membership fee has been paid.
The amount to obtain the minimum shares (as determined in Paragraph 7) is paid.
37. WITHDRAWAL FROM MEMBERSHIP
A member may withdraw from membership only by giving at least three (3) months prior written notice.
Such withdrawal cannot become effective until all debts of the member have been settled and he/she has ceased to be a guarantor for any loan.
38. EXPULSION FROM MEMBERSHIP
A member may be expelled from the Society by a 2/3 majority vote of the General Meeting.
Reasons for expulsion shall be:
Arrears in savings
Misuse of loans
Behaviors detrimental to the interest of the Society.
39. DEATH OF A MEMBER
Upon the death of a member, his/her savings/shares shall be paid/ transferred to person(s), whom he/she has nominated on his/her application form, as in paragraph 35(b).
40. PAYMENT AFTER TERMINATION OF MEMBERSHIP
If a person has ceased to be a member his/her savings/shares shall be paid/transferred to him/ her, only after all his/her guarantees for loans have been ceased.
In case death of a member, his/her savings/shares shall be paid/transferred to his/her nominee(s) or legal heir(s) only after all his/her guarantees for loans have been ceased.
PART IV – GENERAL MEETING
41. SUPREME AUTHORITY
The supreme authority of the society shall be vested in the members, who exercise their power through voting at Annual and Special General Meetings.
42. ANNUAL GENERALMEETINGS
The Annual General Meeting shall be held every year within four (4) months after the end of the financial year.
The members shall be informed of Annual General Meetings at least two (2) weeks in advance.
43. BUSINESS AT ANNUAL GENERAL MEETING
The Annual General Meeting shall:
Confirm the meetings of the previous Annual General Meeting and any intervening special General Meetings.
Receive the report of the past year’s work, the statement of accounts for the same period and any auditor’s report.
Decide on the manner of disposal of the net surplus gained in the last financial year provided that the proper amount has been credited to the statutory reserve and other reserves.
Consider appeals against the expulsion of Members.
Elect members of the Board of Directors, Loan Committee and the Supervisory Committee.
Fix allowance or honorarium, if any, for voluntary work done for the society by officers or members.
Amend the bye-laws in accordance with paragraph 75 of these bye-laws.
Conduct any other business.
44. SPECIAL GENERAL MEETING
A Special General Meeting shall be held when requested by:
a 2/3 majority vote of Board of Directors; or
a unanimous vote of the Supervisory Committee; or
a written request from at least 20 or 1/4 of the members, whichever is the lesser.
A Special General Meeting shall be announced to members at least two (2) weeks in advance.
45. BUSINESS AT SPECIAL GENERAL MEETING
The business of a Special General Meeting shall be made known to members at in an announcement to meeting.
A Special General Meeting shall consider only the announced business.
46. VETTING COMMITTEE
A Vetting Committee shall be appointed to vet all aspiring candidates and present qualified candidates to the electoral committee for election.
An aspiring member may be disqualified on one or more of the following grounds:
History of any fraudulent activities
Inactive (not saving regularly)
Involved in any other act that is contrary to the rules and regulations of the Credit Union.
47. VOTING AT GENERAL MEETING
Each member shall have one vote.
Voting may be by ballot.
A member must be present to vote or may submit votes via proxy.
To be considered present, a member may participate live via electronic communications. A meeting Administrator will be designated to authenticate the identity of members participating via telecommunication link. The meeting administrator will authenticate any electronic voting by verifying the identity and content of any electronic messaging sent by members participating via telecommunication link.
A member may vote via proxy using one of the following means. A member may send proxy vote(s) via electronic mail, electronic texts, or conventional postal delivery services. Any such proxy votes must be received prior to the opening of the meeting in which they are to be counted. The meeting administrator will authenticate and tally these proxy votes and record them at the time of the vote. - or –
A member may designate a Proxy voter to cast votes on their behalf during the course of the meeting. To do so, a member must send a notice, electronic or conventional, at least 3 days prior to the meeting. The meeting administrator will verify and authenticate this proxy designation prior to the beginning of the meeting at which the Proxy will serve.
The minimum voting age shall be eighteen (18) years.
A person, who has been convicted on fraud or dishonesty, shall not be eligible for election to any of the committees of the Credit Union.
48. QUORUM AT GENERAL MEETINGS
The quorum at Annual and Special General Meetings shall be forty (40) or 1/2 of the members’ strength, whichever is lesser. In case a quorum has not been reached, the meeting shall stand adjourned for one week and until such time as the adjourned meeting is held the affairs of the Society remain unchanged in so far as that is possible and consistent with justice, equality and common sense.
PART V – BOARD OF DIRECTORS
49. BOARD OF DIRECTORS
The Board of Directors shall consist of minimum of five (5) and maximum of seven (7) members. It shall include the Chairperson, Vice Chairperson, Secretary, Treasurer, Other officers (as may be required) and other members, provided that no such person shall be an employee of the society or a member of Loans or Supervisory Committee.
50. ELECTION OF THE BOARD OF DIRECTORS
The members of the Board of Directors shall be elected by the Annual General Meeting.
Vacancies occurring during the year shall be filled by the Board of Directors.
Elected members shall serve two (2) years term of office and shall be eligible for re-election, provided the member shall not have served for a maximum of three (3) consecutive terms of two (2) years each.
After serving for a total of six (6) years made up of three (3) terms of two (2) years each, a Board member shall not be eligible for election until after a break of a term.
Election shall be organized in such a way that a percentage (%) of members faces elections annually.
51. LOSS OF OFFICE
If a member of the Board of Directors fails to attend three (3) consecutive Board Meetings, his/her office may be declared vacant by the Board.
52. SUSPENSION/ EXPULSION FROM OFFICE
The Board of Directors shall have the power by vote of two-third (2/3) of their numbers present and voting to suspend from office any Board Member for misconduct, such as dishonesty, fraud, corruption or any other act fatal to the society.
A Board of Directors member suspended under 52(a) above shall only be expelled after the final decision of a General Meeting dully called for that purpose.
53. MEETING AND QUORUM OF BOARD OF DIRECTORS
Meeting of the Board of Directors shall be held regularly, at least once in a month and more if required.
The Board of Directors shall invite the members of the Loan Committee to its Board meeting.
The quorum at meetings of the Board of Directors shall be a majority of the members of the Board.
Each Board member shall have one vote. The Chairperson shall have a casting vote in the event of a tie in voting.
54. DUTIES OF BOARD OF DIRECTORS
The Board of Directors is the executive organ of the society. Subject to the authority of the General meeting and these bye-laws, the Board of Directors shall perform or authorize all actions necessary to achieve the aims of the Society.
It shall in particular:
Determine the purpose and objective of the Credit Union.
Draft and propose bye-laws.
Develop and ensure the implementation of operational policies of the Credit Union (lending, saving, investment, financial, personal etc.).
Develop both, short and long term Business Plans for the growth of the Credit Union.
Represent the society in its dealings and transactions.
Engage the services of a manager for the day to day activities of the Credit Union and fix his/her remuneration and conditions of service.
Decide on the bond which may be required of employees or officers handling the funds and property of the society.
Open bank accounts in accordance with the Provision of the decree, and decide on the Investment of funds.
Appoint at least three (3) signatories for cheques, notes, drafts and other obligations of the Society.
Constantly evaluate the performance of the Credit Union.
Develop and implement ongoing educational programs of the Society.
Authorize borrowings by the Society in accordance with paragraph 29.
Ensure that true and accurate records and accounts of all transactions of the Society are kept.
Take action against delinquent borrowers.
Recommend to the Annual General Meeting the dividend rate on shares.
Determine rate of interest to be charged on loans and paid for savings, as it is deemed necessary.
Prepare and present budgets at the Annual General Meeting for approval by the general members.
Where necessary the Board of Directors may appoint an internal Auditor to compliment the work of the Supervisory Committee.
The Board of Directors shall have the power to delegate an officer or an employee of the Society as it may deem necessary.
PART VI – LOANS COMMITTEE
55. MEMBERS OF LOAN COMMITTEE
The Loan Committee shall consist of at least three members, elected by the Annual General Meeting.
The members of the Loan Committee shall not be members of the Board of Directors.
Members shall serve a two years term of office but can be re-elected for a maximum of three consecutive terms after which such members shall have a break of one term and shall afterwards be eligible for election.
56. MEETINGS AND QUORUM OF LOAN COMMITTEE
The Loan Committee shall meet frequently to conduct its business.
The quorum at meeting of the Loan Committee shall be majority of the members of this Committee.
57. DUTIES OF LOAN COMMITTEE
The Loan Committee shall grant loans only in accordance with these Bye-Laws, rules and policies laid down by the Board of Directors.
It shall decide on loans only at proper meetings and if the required quorum is present.
It shall in particular:
Consider all loan applications. The Manager may be authorized to approve loans completely secured by the borrower’s own savings which are already pledged as security for another loan, if the Loans Committee so wishes.
Ensure that loans are properly secured.
Determined reasonable conditions of Repayment.
Follow up delinquent loans.
Make recommendations to the Board of Directors for action to be taken against delinquent borrowers.
58. LOANS TO MEMBERS OF OTHER COMMITTEE
Loans to members of the Loan and Supervisory Committee shall be granted only with the prior approval of the Board of Directors.
Such approval shall appear in the minutes of the meetings of the Board of Directors and on the loans bond.
PART VII – SUPERVISORY COMMITTEE
59. MEMBERS OF SUPERVISORY COMMITTEE
The Supervisory Committee shall consist of a minimum of three (3) members elected by the Annual General Meeting.
The members of the Supervisory Committee shall not be members of the Board of Directors or the cash or accounts on behalf of the Society.
Members shall have two (2) years term of office that can be re-elected for a maximum of three (3) consecutive terms (6years).
60. DUTIES OF SUPERVISORY COMMITTEE
Supervisory Committee shall have the following duties:
To check whether the Board of Directors has fulfilled its functions properly.
To check whether the Loans Committee has followed the prescribed procedures in granting loans particularly with regard to security.
To see that the treasurer or another authorized person prepares a monthly financial statement.
Ensure that the Treasurer/Manager or another authorized person prepares a Balance Sheet and an Income and Expenditure Accounts at the end of each financial year and sends it to the Registrar and the National Credit Union Association (CUA) Headquarters.
See that a complete audit of the books of Accounts is made at least once a year.
Check each member’s passbook against his/her Personal Ledger Card, at least once a year.
Check the cash in hand, bank accounts and investment securities at least once a year.
Make a report to the Annual General Meeting.
Meet monthly to check and sign the Financial Reports.
61. OTHER COMMITTEE
The Board of Directors shall establish an Education Committee and such other committee as it may deem necessary.
PART VIII – OFFICERS OF THE SOCIETY
62. The Officers of the Society shall be a Chairperson, a Vice-Chairperson, a Secretary, a Treasurer and such other officers as the Society may require.
63. ELECTION OF OFFICERS
The officers shall be elected by the Board of Directors from among its own members.
Officers need not be present to be elected.
64. TERMS OF OFFICERS
Officers shall hold office as per “Paragraph (50) (c) and (d)”.
The Chairperson shall preside at all General Meetings and Meetings of Board of Directors.
The Vice-Chairman shall perform the duties of the Chairman in the absence of the officer.
The Secretary shall keep the minutes of all general meetings and all meetings of the Board of Directors, and shall perform such other duties as they are regularly performed by a Secretary.
The Secretary may delegate part of his/her duties to qualified persons with permission of the Board of Directors.
The Treasurer shall ensure that full and complete record of all financial affairs and funds of the society are kept.
He/she shall ensure that a monthly financial statement is prepared and posted in a conspicuous place at the office of the Society. He/she shall also ensure that a Balance Sheet and an Income and Expenditure accounts are prepared at the end of each financial year.
He shall also perform such other duties as are regularly performed by a Treasurer.
The Treasurer may delegate part of his duties to the Assistant Treasurer or to another qualified person with the approval of the Board of Directors.
69. ASSISTANT TREASURER
The Assistant Treasurer shall assist the Treasurer in the performance of his/her duties.
70. THE MANAGER
The Board of Directors shall appoint a manager who will be in charge of the day to day administration of the credit union and shall fix his/her remuneration for his/her services. The Service of the Manager will be terminated or suspended in line with staff condition of service.
71. DUTIES OF THE MANAGER
To act as a Secretary at General Meetings, Board Meetings, Executive Meetings and at any meetings as far as his/her services are required.
To conduct the correspondence on behalf of the Credit Union.
To appoint other staff with the approval of the Board of Directors and to dismiss an employee and report such action to the Board of Directors.
To supervise and co-ordinate the activities of the staff of the Credit Union.
To act on behalf of the Treasurer of the Credit Union and pay out money and keep cash on hand, deposit and withdraw money from banks or other financial institution as well as investing surplus funds.
To sign cheques, notes and other obligation of the Credit Union as may be recommended by the Board of Directors.
To keep accurate accounts and records and have charge of the documents, payment vouchers and receipts of the Credit Union as may recommended by the Board of Directors.
To advise the Board of Directors on financial and other matters.
Prepare a monthly financial statement i.e. Income and Expenditure Statement and a Balance Sheet in a timely and efficient manner for the attention of the Board of Directors.
To carry out such duties that may be lawfully assigned him/her by the Board of Directors.
PART IX – AUDIT
The accounts of the Credit Union shall be inspected and audited within three (3) months after the end of each financial year in accordance with the Co-operative Decree.
PART X – VOLUNTARY DISSOLUTION
73. VOLUNTARY DISSOLUTION
The Credit Union may be dissolved by the consent of 3/4 of its members, testified by their signatures, identified by Membership Numbers / Accounts Numbers.
PART X - MISCELLANEOUS
74. SPECIAL RESOLUTION
By a special resolution, the Credit Union may amalgamate with or transfer its engagements with another Credit Union.
75. AMENDMENTS OF BYE-LAWS
These bye-laws may be amended by a 3/4 majority vote of members present at a General Meetings, provided that 1/2 or not fewer than 40, whichever figure is lesser, of the members of the Society are present.
No amendments of the bye-laws can be made unless the proposed amendment was specified in the notice calling members to meeting.
An amendment duly passed at a General Meeting can only become effective when it is registered according to paragraph 9 of the Decree.
The Credit Union shall maintain permanently the following records:
Register of Members
Registered copy of Rules and Amendments thereto.
Minutes of General Meetings (Annual and Special) and of all other committees.
Members’ Shares/Savings and Loan Register and General Ledger.
Applications for Membership and Loans
Any other accounting books or records prescribed by the National Association.
The Society shall have the power to affiliate with any Regional or National Association established with the object of facilitating the operating of Savings and Credit Societies in accordance with Co-operative Principles.
All disputes within the Society which cannot be settled by the Board of Directors or a General Meetings shall be referred to the Registrar in accordance with paragraph 45 of the Decree.
The Society shall be liquidated only by order of the Registrar in accordance with Decree, Paragraph 54-63.
NEWS, EVENTS & VIDEOS
The need to extend our membership remains urgent. We are still in our infancy and we need pioneers with vision, aspiration and a sense of purpose. The leadership of the BSLCCU invites all Pan-Africanist to invest some trust, equity, time, expertise and money. Join the BSLCCU and help us shape our economic destiny. Our union will make us stronger. Application forms, Payment Methods and more information are available from our Website:
Please take your time to watch this video of Black Star Line members testifying about how the cooperation has helped them achieve their dreams. Black Star Line Cooperative Union brings your dreams to live.
Please Enjoy our video.
if you are interested to become a member with Black Starline Cooperative Credit Union. Please click here to Register
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Ghana Contact: D Cover (Deecee) +233 (0) 505 773 535
USA Contact: D. Danville (Jawara) 646 702-2393
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