SOBACCUL (Soba cooperative credit Union) is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.

HOW TO BECOME A MEMBER

Becoming a member of SOBA Cooperative Credit Union Limited (SOBACCUL) is very easy. You just need to complete six simple steps.

1

Go to our SOBACCUL Offices

Fill an application form with the help of our staff

2

3

7500 FRS

Pay a registration fee of 7500 frs

Buy shares at 100,000 FCFA minimum

100,000 frs

4

5

Submit 02 passport size photographs

Nominate your beneficiary And submit a photocopy of your ID card

6



OUR ACCOUNT TYPES

this is what qualifies one as a shareholder of SOBACCUL. The share gives the right of participation in decision making as well as access to the numerous services. SOBACCUL reserves the right to call up additional shares as is balance sheet grows. Each share is valid at 100,000 FCFA. Share can be withdrawn upon 3 (three) months notification.

This is an interest-bearing deposit account that provides a modest interest rate yearly. This savings in this account and the frequency with which you save, form a base which determines your eligibility and amount for a loan. SOBACCUL savings account is considered one of the most liquid investments outside of the demand accounts and cash.

This is the current account in SOBACCUL. Money paid into this account is for safekeeping. The account holder has the right to withdraw deposited funds, as set forth in the terms and conditions governing the account agreement.

This account is reserves for legalized groups like meetings, associations, NGOs, Churches, etc. It allows for safekeeping of group funds and avoids misappropriation by individuals. Interest is paid on amount saved. Withdrawal is free of charge.

This account takes care for fund needs in Education, Healthcare etc, for children less than 18 years old. Other operations like cheques and loans cannot be carried out in this account. This account also yields interest.

SOME OF OUR PRODUCTS AND SERVICES

Deposit account

Deposit account is the current account in SOBACCUL. Money paid into this account is for safekeeping. The account holder has the....

Savings account

This is an interest-bearing deposit account that provides a modest interest rate yearly. This savings in this account and the frequency with which...

Shares

This is what qualifies one as a shareholder of SOBACCUL. The share gives the right of participation in decision making as well as access ....

Money Transfer services

SOBACCUL money transfer renders money transfer services to its members free of charge, from one Branch Office to another.

Partnership services

MTN MOBILE MONEY AND ORANGE MONEY. SOBACCUL provides more efficient and secure circulation of money,

Njangi Finance

This is a form of loan/credit facilities given to registered meeting groups. SOBACCUL Njangi financing runs from 12 months period,

OUR OBJECTIVES

  1. To solve problems collectively which members cannot indivisually achieve
  2. To achieve a better result by coordinating our know how, wealth and skills
  3. To promote self-reliance among members
  4. To improve the living standards of members by reducing investment and service costs by providing input or service at a minimum cost or by finding a better price to our products or services
  5. To expand the mechanism by which professionals and techical knowledge could be put into practice
  6. To develop and promote saving and credit services
  7. To minimize and reduce the individual impact of risks and uncertainties
Manager SOBACCUL

MOTTO

Changing lives and the Community; One member at a time.

Become a member