Your credit union is simple!

1. We invest your money into common funds.
2. You elect your members as directors at Annual General Meetings to manage your funds.
3. Lend members money from your funds
4. You are charged interest on loans acquired.
5. Interest earned and profits from investments is your credit unions’ income.
6. The Board of Directors along with the General Manager pay the cost of running your credit union with the credit unions income.

After operational expenses are determined DIVIDENDS are distributed to members in good financial standing with the credit union.

All members can vote at the Annual General Meeting, members vote on who they want to be their officers, on some polices and even investments.

Members can borrow every 3 months.

When you take up financial products from a bank, you do so as a customer. Banks are owned by their shareholders and are run at a profit to provide the highest possible dividends to those who hold shares.

Alternatively, when you take up financial products from a credit union, you become a member, and therefore a part owner, of the credit union. Credit unions exist to provide financial products and services for the equal benefit of their members, rather than to produce profits for shareholders. As a member of a credit union, you have a right to attend member meetings and comment and/or vote on matters concerning the constitution, management performance and financial reports of the credit union.

We give dividends to our members annually, based on the surpluses the Company would have made for that particular year. Our dividends are usually 4.5% per year. As our investment portfolio continues to grow so too will our dividends. It should be noted that the more shares purchased on a monthly basis, the more dividends would be paid.

After two (2) months members can access the Jumpstart Loan to start building their savings. Generally, members are entitled to access the loan facility of the credit union after three months.

The following payment methods are available, but may vary based on loan type:

• Banker’s Order
• Salary Deduction
• Over-the-counter/OTC payment at the Credit Union

We can only release information on a loan to the borrowers or with their written permission to discuss with someone else.

Documentation varies on the type of loan needed. See our list of loans to find out the details that pertain to your request.