Rates & Fees at WDPCCU
Transparent, Member-Friendly Pricing
At WDPCCU, we believe in fair and clear pricing—no hidden charges or surprise fees. Here’s a breakdown of our current rates (as of July 2024):
Savings & Deposit Rates
| Account Type | Interest Rate | Minimum Balance | Fees |
|---|---|---|---|
| Regular Savings | 3.5% p.a. | ¢50 | No monthly fees |
| Shares Account | 5% p.a. + Dividends | ¢100 | None |
| Adom Susu | 4% p.a. | ¢5 | No withdrawal fees |
| Youth Savings | 6% p.a. | ¢20 | Free until age 18 |
| Fixed Deposit | 5-12% p.a. | ¢500 | Early withdrawal (1% penalty) |
💡 Interest calculated daily, paid quarterly (except Fixed Deposits)
Loan Rates
| Loan Type | Interest Rate | Processing Fee | Insurance |
|---|---|---|---|
| Personal Loan | 12-15% p.a. | 1% of amount | Optional (0.5%) |
| Susu Loan | 10% flat | None | N/A |
| Funeral Loan | 8% flat | ¢50 | Included |
| Emergency Loan | 12% flat | ¢20 | N/A |
| School Fees Loan | 10% p.a. | 0.5% | Optional |
| Project Loan | 14-20% p.a. | 1.5% | Required (>¢20k) |
| Xmas Loan | 15% flat | None | Optional |
📌 All rates based on credit assessment. Better rates for long-term members.
Service Fees
| Service | Fee | Notes |
|---|---|---|
| ATM Withdrawals | ¢2/transaction | Free at WDPCU ATMs |
| Mobile Money Transfers | ¢1-¢5 | 50% cheaper than telco rates |
| Account Statements | Free (e-version) | ¢5 for printed copies |
| SMS Alerts | ¢2/month | Free first 3 months |
| Late Loan Payment | 2% of installment | Waived first occurrence |
| Loan Restructuring | ¢30 | After 6 months of good payments |
WDPCU vs Commercial Banks
| Fee Type | WDPCU | Average Bank |
|---|---|---|
| Monthly Account Fee | Free | ¢10-¢20 |
| Loan Processing | 1% max | 3-5% |
| ATM Withdrawals | ¢2 | ¢5-¢10 |
| Mobile Transfers | From ¢1 | From ¢5 |
Special Discounts
🎓 Students: 50% off all fees
👵 Seniors (60+): Free SMS alerts + 0.5% loan rate discount
🤝 Groups/Cooperatives: Bulk fee waivers
Important Notes
🔸 All rates subject to change (Members notified 30 days in advance)
🔸 No compound interest on late payments
🔸 Fee exemptions for members below poverty line
FAQ
Q: Why are credit union rates better?
A: As a non-profit, we return profits to members through better rates.
Q: How often do rates change?
A: Savings rates adjust quarterly; loan rates annually (unless BoG mandates changes).
Q: Are there hidden charges?
A: Never! We disclose all fees upfront.
Q: Can I negotiate loan rates?
A: Yes! Long-term members get personalized rates.