Black Star Line Cooperative Credit Union
The Rastafari Council, Ghana has established the Black Star Line Credit Union (BSLCU) as part of its program towards the economic empowerment and self reliance of the Pan African Community. It was formerly launched on 2nd March, 2010 at the Ghana International Press Centre by an official of the Credit Union Association of Ghana, Mr John Acheampong.
By promoting and facilitating savings, the BSLCU aims to foster wealth creation within the Pan African Community in Ghana and the Diaspora. The name Black Star Line was inspired by the aspirations of the Hon Marcus Mosiah Garvey who established the Black Star Line Shipping Line in the 1920s under the auspices of the United Negro Improvement Association and Osagyefo Dr. Kwame Nkrumah, First President of the Republic of Ghana as well as the many unsung heroes who worked for the emancipation of the African.
The BSLCU is a not-for-profit financial cooperative -- or to be more specific, a financial institution that is owned and operated by its members for the benefit of its members. Members benefit by having a safe and convenient place to save money and access loans and other financial services at reasonable rates. Since the BSLCU exist to serve its members and not make a profit, every member counts, including those of modest means. The BSLCU and its employees are therefore compelled to get involved in community and other worthwhile causes.
The BSLCU is democratically controlled. Each member has equal ownership and one vote – regardless of how much money he or she has in savings. Qualification for membership must satisfy a “common bond” which is anyone with a Pan-African perspective. The BSLCU places particular importance on educational opportunities for its members and the public at large to help everyone become better educated consumers of financial services.
The BSLCU is currently managed by the Rastafari Council, Ghana. This responsibility is on an interim basis until the maiden annual general meeting is convened when members elect a Board of Directors. The Board of Directors serves on a voluntary basis and is elected by and from the membership.
Membership in the BSLCU is accomplished by submitting the following:
The BSLCU is supervised and regulated by the Ghana Credit Union Association (GCUA).
The Rastafari Council, Ghana invites all Pan Africans to become members of the BSLCU.
By promoting and facilitating savings, the BSLCU aims to foster wealth creation within the Pan African Community in Ghana and the Diaspora. The name Black Star Line was inspired by the aspirations of the Hon Marcus Mosiah Garvey who established the Black Star Line Shipping Line in the 1920s under the auspices of the United Negro Improvement Association and Osagyefo Dr. Kwame Nkrumah, First President of the Republic of Ghana as well as the many unsung heroes who worked for the emancipation of the African.
The BSLCU is a not-for-profit financial cooperative -- or to be more specific, a financial institution that is owned and operated by its members for the benefit of its members. Members benefit by having a safe and convenient place to save money and access loans and other financial services at reasonable rates. Since the BSLCU exist to serve its members and not make a profit, every member counts, including those of modest means. The BSLCU and its employees are therefore compelled to get involved in community and other worthwhile causes.
The BSLCU is democratically controlled. Each member has equal ownership and one vote – regardless of how much money he or she has in savings. Qualification for membership must satisfy a “common bond” which is anyone with a Pan-African perspective. The BSLCU places particular importance on educational opportunities for its members and the public at large to help everyone become better educated consumers of financial services.
The BSLCU is currently managed by the Rastafari Council, Ghana. This responsibility is on an interim basis until the maiden annual general meeting is convened when members elect a Board of Directors. The Board of Directors serves on a voluntary basis and is elected by and from the membership.
Membership in the BSLCU is accomplished by submitting the following:
- a completed application form
- 2 passport size pictures
- $5.00 registration fee
- $35.00 minimum share purchase. Note: share purchase can be completed in installments not exceeding 6 months.
- Minimum savings deposit of $5.00
The BSLCU is supervised and regulated by the Ghana Credit Union Association (GCUA).
The Rastafari Council, Ghana invites all Pan Africans to become members of the BSLCU.