Credit unions offer personal loans for provident purposes such as for medical expenses, making home repairs, purchasing household appliances and to pursue higher education. They also offer loans for productive purposes such as starting a small business and farming.
Credit unions also provide business loans at reasonable interest rates paid on the reducing balance.
To obtain a loan, the member should meet the five C’s:
- Be of good character, fiscally responsible and stable
- Have the capacity to repay
- Possess collateral, show good faith and be adequately secured
- Have access to capital
- Be credit worthy
MORTGAGE LOAN FACILITIES
Credit union members can receive mortgage loans through their credit unions. Talk to your credit union today to find out about their mortgage loans.
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SMALL BUSINESS LOANS
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