The Volta Lake Co-operative Credit Union loans are designed to meet the needs of our members. Our loans are designed for members that need to access funds to finance building, home improvement projects, businesses, funeral, medical, and other items. Our loans are also available for purposes such as personal or business travel, education expenses, medical expenses, debt consolidation and more.
You can save while servicing your loan. You can borrow an agreed amount for a future investment and use the deposited funds as security for the loan. Our loans are offered repayment on the straight line (flat) basis. As your outstanding balance decreases, you can access additional funds up to your maximum limit.
LONG-TERM LOANS (UP TO 5 YEARS)
Our Long-Term Loan facility is designed to empower you to pursue major life goals and strategic business investments with confidence. With a repayment period of up to 60 months (5 years), this product offers stability, flexibility, and financial breathing room—so you can focus on building your future.
Why Choose our Long-Term Loans?
Extended Tenure
Repay comfortably over a period of up to 5 years
Fast Disbursement
Get approved and funded within 48 hours
Lower Monthly Payments
Spread repayments to ease your monthly budget
Fixed Interest Rates
Enjoy predictable costs throughout the loan term
Higher Loan Amounts
Access substantial funding for impactful projects
Application Requirements
To access a Long-Term Loan, applicants must provide:
- A valid Ghana Card
- A completed loan application form
- Proof of income and employment verification
- Insurance, guarantors, or collateral may apply based on terms and conditions
Policy on Loan Top-Up, Refinancing, and Rescheduling
In recognition of members' evolving financial needs and the importance of responsible credit management, the Loans Committee/Board affirms the following guidelines regarding loan top-ups, refinancing, and rescheduling:
1 Loan Refinancing
A member may be considered for loan refinancing provided they have repaid at least 60% of their existing loan and demonstrate capacity to repay the new facility. In such cases, the outstanding balance of the existing loan, together with one month's interest, shall be deducted from the amount of the new loan being applied for.
2 Loan Top-Up
A member may be eligible for a loan top-up upon repayment of at least 50% of their current loan. The remaining balance of the existing loan, combined with the additional amount requested, shall be treated as a new loan and processed accordingly.
3 Loan Rescheduling
The Loans Committee/Board reserves the discretion to reschedule a member's loan repayment terms if such an adjustment is deemed necessary and in the best interest of both the member and the institution.
Ready to Apply for Your Loan?
Take the next step towards achieving your financial goals with our flexible loan solutions designed specifically for our valued members.