Firstly, in order to join a credit union, you need to hold what is known as the ‘common bond’. For most credit unions, the ‘common bond’ is the area where members live – potential members will need to live or work within a local area. This is known as a community based credit union. For other credit unions, the ‘common bond’ might be the occupation members work in, the employer they work for or perhaps, members are drawn from a society or association. The ‘common bond’ is what enables members to know and trust one another.  

                                              How to open a credit union account?

You take a Credit Union of your choice, go to the premise and fill a simple form and agree to pay the opening balance of D250, entrance fees of D100 and a minimum share of D150, two passport size photos and copy of the ID Card as required by the credit union. Clubs and organizations and children may join the Credit Union. There is joint membership. A man and his wife can open a joint account with the credit union.

 To open an account at a credit union, you’ll need to meet the eligibility requirement by the credit union you wish to open the account at. (This is usually easier than it sounds). Make a small deposit (often 250 and above) to become a member-owner. Start using your account. You will have to save six months with the credit union before you can apply for a loan and they can give you twice your savings for the loan depending on this credit union policy, to grant you a loan guarantor must be available and must be a member of this credit union you are applying the loan from. He your guarantor must have the amount of savings in his account which you are applying for or more. The loan can be paid within certain period of time also depending on the policy and bye law of the credit union


join the credit union for financial security that is too able to have access to
funds in times of need. Secondly, owning affordable houses, the credit union
assist members acquire land, building materials and putting up houses so that
when they retire they may a place to stay.  Agriculture is one sector that  Credit unions can help it’s members who are interested in it to have modern tool etc Also to be able to educate members
themselves and their children in higher institution of learning like ,
University of the Gambia,GTTI, College etc. Easy access to low interest loans
and attractive return on your savings. The benefits are very real and
reasonable such that people really need to become members to upgrade their
living conditions.