A member is eligible for a loan once they have met the requirement. Members may borrow up to 10 times their Shares depending on the loan types. Interest rates on loans are very competitive and vary according to the share ratio. All interest rates are calculated monthly on the reducing balance. Once you are borrowing more than you have saved, collateral (security) may be required for the loan.  

The Permanent Share Account is set aside for each member to ensure that each has equal voting right at the Annual General Meetings. It is redeemable upon closure of the account. The minimum at this time is 1000 shares valued at $2 per share.

Shares are covered by insurance from CUNA Mutual Insurance Company (see info on Life Savings insurance coverage).


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