Loan secured by member’s share savings to a maximum of 95% of total share savings to be repaid as follows:
- Loans up to $100,000.00 maximum repayment period 2 years
- Loans over $100,000.00 maximum repayment period 5 years
Each member can access loans within their shares to a maximum of 95% of total share savings to be repaid within 1 -5 years. No proof of purpose for this loan is required.
This loan will attract a minimal interest rate calculated on the reducing balance
Approval will be subject to the member’s ability to repay.