The NIB Churchlink is a product designed for Churches. This is a hybrid of a current and an investment account specifically designed to offer churches high interest, flexibility of a cheque book and a loan facility when required.
Features of CL/A
Tired interest rate-the more you deposit, the more interest you earn. Interest is calculated daily and paid monthly.
Customers can have cheque book
Customers have the option to choose a daily, weekly, monthly or quarterly statement of accounts electronically
Free advisory service
Provision of guarantees in situation where the church would have to undertake projects and payments made at a later date.
Separate Acc for the ff:
For the day to day financial activities
Church collections account, monthly thanksgiving offerings account and Church harvest.
Church welfare account
Account Funds from financiers outside Ghana.
Credit union accounts.
Requirements to Open CL/A
The Church must be legitimately registered.
The Church must be easily located. It must be constitutionally governed. It must have a well constituted committee. Minimum Opening Balance= GH¢5.00, Minimum Operating Balance = GH¢100.00
Weekly mobile cash collection service after Sunday’s service and any other major activity
The accounts earn higher interest than that of savings
The Church has access to an unsecured overdraft amount of 40% of the Church’s monthly credit turnover.
The Clergy (Pastors), Church workers and individual members of the Church can access a loan under the guarantee of the Church and against the collection.
Investing idle funds into high interest bearing products to earn higher interest for the church.