Tumu Cooperative Credit Union
Tumu Cooperative Credit Union provides microfinance loans in rural areas of Ghana. In additional to having a well-established presence in the region, Tumu has a proven track record of facilitating loans to farmers. Tumu runs efficient and profitable operations, with a high potential to grow to improve their services and reach out to more clients.
As a member-based organization, Tumu offers reasonably priced loans – and a wide range of financial and support services – to rural clients to develop their agricultural businesses.
Tumu serves a client base of 9,000 at its two branches. About a third of its 600+ active borrowers are groups, which accounts for the relatively high average loan size of $1,300.
Its 18 staff members include 10 field staff who take deposits and process loans – agricultural and business loans, as well as personal loans.
MEDA is working with Tumu to develop appropriate loan products to serve soybean farmers and other market actors in the GROW – Greater Rural Opportunities for Women – project, providing badly needed access to finance to expand their operations.