The rules of the Credit Union provide that only members are eligible to borrow from the Credit Union and that such loans must be for provident and productive purposes.
Provident loans are those which help you, our members and your families to sustain or improve your lives, by helping to fulfill basic needs.
These are classified as:
Productive loans are those which are used to generate an income to the member, and to produce goods or services to others.
These are classified as:
The loans are offered in the following categories:
Accepted Collaterals:
Documents required for loan:
Did you know?
You can borrow the amount saved in your shares instead of withdrawing your shares; the money may be accessed the same day you make an application, at very low interest rates
You can borrow another loan although you have an existing one
Some loans products has more flexibility that will guarantee approval within one hour of application
We offer flexible interest rates on the reducing balance
The maximum repayment period on secured loans is 8 years
Members can borrow up to 10 times their shares (conditions apply)
There is no penalty for early repayment of loans
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