Qualifications For Loans

1.) All loan applicants must be bonafide members of the Credit Union.

2.) All new members must complete a minimum time requirement of membership, with the Credit Union to qualify for a loan in excess of their Savings unless approved by the Board under special circumstances.

3.) A member who has been required to clear arrears resulting from delinquency must observe a waiting period of three months after completion of such payment before a new loan may be approved for that member.

4.) A loan shall not be granted to a still member (that is, a member who is not making  contributions to shares) over and above his/her share value, unless that member makes contributions to shares for the last three(3) consecutive months. (By-Law 79)