KWAHU EAST TEACHERS AND EDUCATIONAL WORKERS WELFARE & CREDIT UNION
Terms of Use
These terms govern your use of the members' web portal and the KEWCU Android application (together, "the System"), operated by KWAHU EAST TEACHERS AND EDUCATIONAL WORKERS WELFARE & CREDIT UNION ("the Union"). By signing in you accept these terms. If you do not accept them, do not use the System.
The System is private. It is for registered members of the Union, and for officers and staff acting in their official roles. It is not open to the public. Access is granted with your membership and ends when your membership ends.
You must give accurate and complete information, and keep it up to date — particularly your mobile number, your Ghana Card details and your beneficiary. Decisions on dues, loans and benefits are made from these records. Giving false information may lead to a request being refused, to loss of access, and to action under the Union's constitution.
Submitting a request through the System does not create an entitlement. Every request is subject to approval under the Union's rules, to your standing as a member, and to the funds available. Approval, the amount, the interest and the repayment terms are determined by the Union.
The Union lends only to its own members, from members' own contributions. It is not a bank and it does not lend to the public. The terms below are the terms the System applies; they are set by the Union under its constitution and may be changed by the Union.
| Term | What applies |
|---|---|
| Who may borrow | A registered member who has been a member for at least 6 months and whose dues are paid up for at least 6 months, supported by the required guarantors, who must themselves be members in good standing |
| Repayment period | Minimum 1 month, maximum 48 months. In practice loans are written over the full 48 months. |
| Interest | A flat 20% of the amount borrowed, charged once for the whole term and added to the amount you repay. It is not compounded and it does not accrue month by month. |
| Maximum APR | 9.24% per year (nominal). Because the flat charge is calculated on the full amount while you are repaying it in instalments, the equivalent annual rate on the reducing balance is higher than the flat rate. The effective annual rate is 9.64%. |
| Fees | No application fee, no processing fee and no disbursement fee. Interest is the only cost of a loan repaid on time. |
| How you repay | In equal monthly instalments, normally deducted at source from your salary through the payroll deduction service. Where deduction is not possible you pay the Union directly. |
| Late payment | If a loan is still unpaid after its due date it is marked in default and a one-time charge of 1% of the outstanding balance is added. There is no daily or rolling penalty, and no charge is ever applied twice to the same loan. |
| Paying off early | You may settle at any time. The settlement figure is the principal you still owe plus two months' interest — the rest of the interest is waived. Ask through the System and the Union will issue a written settlement statement valid for one month. |
| Collection | An unpaid loan is pursued under the Union's constitution: through your guarantors, and against your contributions and benefits. We do not use outside debt collectors, we do not contact people from your phone, and we do not read your contacts or messages. |
The amount you may borrow depends on the funds available to the Union, on what the Union judges you can afford from your salary, and on your standing as a member. Approval is never automatic — see section 6.
You agree not to:
Officers are additionally bound by their duty of confidentiality: information seen in the course of a role must be used only for that role.
We aim to keep the System available, but we do not guarantee it will be uninterrupted or error-free. It may be unavailable for maintenance, or because of failures at our hosting, messaging or network providers. Messages sent by SMS or push notification depend on third-party networks and may be delayed or fail to arrive; do not rely on a notification as your only reminder of a payment that is due.
Access may be suspended or withdrawn where an account is dormant, where membership is suspended or ended under the constitution, where these terms are breached, or where it is necessary to protect the System or other members. Losing access does not cancel any amount you owe, and does not remove any right you hold under the constitution.
The System, its design and its content belong to the Union or its licensors. You may use it for your own membership business. You may not copy, modify, resell, decompile or create a derivative of it.
The System is provided on an "as is" basis. To the extent the law allows, the Union is not liable for indirect or consequential loss arising from your use of it, from a delayed or undelivered message, or from any period of unavailability. Nothing in these terms limits any liability that cannot lawfully be limited, and nothing here reduces your rights under the Union's constitution.
Our handling of your personal information is set out in the Privacy Policy, which forms part of these terms.
We may update these terms. The date at the top of this page shows when they last changed, and we will tell members where a change is significant. Continuing to use the System after a change means you accept the updated terms.
These terms are governed by the laws of the Republic of Ghana, and the courts of Ghana have jurisdiction over any dispute arising from them.
KWAHU EAST TEACHERS AND EDUCATIONAL WORKERS WELFARE & CREDIT UNION
P.O. Box 45, Abetifi-Kwahu, Eastern Region
info@kedwelfare.com
0244 072 123 / 0208 809 700