The African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) has marked a symbolic journey back to the birthplace of Africa’s credit union movement by leading participants of the 26th Africa Development Educators (ADE) Class to visit the continent’s first credit union in Jirapa, Ghana.
It was in September 1955 that Reverend Father John McNulty, an Irish-Canadian Catholic priest serving in the then Gold Coast, planted the seeds of Africa’s cooperative finance movement. In the small town of Jirapa, he introduced a revolutionary idea—community members pooling their savings to support one another. That vision gave birth to the St. Joseph Cooperative Credit Union, a humble initiative that would lay the foundation for a continent-wide transformation.
Seventy years on, the movement has grown into a cornerstone of economic and social empowerment across Africa. Credit unions have become lifelines for millions, offering affordable financial services, fostering entrepreneurship, and enabling communities to invest in education, healthcare, and sustainable livelihoods.
ACCOSCA, which continues to champion cooperative finance on the continent, emphasized the importance of reflecting on these historical roots.
“Returning to where it all began reminds us of the resilience and power of communities working together,”
said ACCOSCA officials during the visit.
For the ADE participants, standing on the very grounds where the first credit union was founded was both symbolic and inspiring. The visit offered a living history lesson on how grassroots financial cooperation can drive collective progress.
From its modest beginnings in Jirapa, the credit union movement has blossomed into a continental force for change. Today, it connects millions of Africans through networks of solidarity and financial inclusion, proving that Father McNulty’s vision of shared prosperity continues to thrive.
As ACCOSCA retraced these historic steps, the moment underscored not only the legacy of the past 70 years but also the promise of what cooperative finance can achieve for Africa’s future.