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You will receive newsletters like this one about Credit Unions from us once a month with a progress report, interesting news and articles that you may find extremely useful.
Read our article about Credit Unions:
Are you looking to increase your living standards and needs to be part of a solid group of people with the same visions and disciplines?
You want to have control over your own future, money, payments, life, religion, beliefs and many more? Believe us you have come to the right place.
The South African Reserve Bank has already opened it's doors and approved the existence of Credit Unions when the Banking law has been altered to make provision for Credit Unions to accept deposits.
Credit Unions may accept deposits to the value of R9,9 Million from it's members. These moneys could then be utilised to supply loans to it's members at a lower rate than what they would be getting from any financial institution. By joining a Credit Union like this means that members could improve their standard of living drastically by making use of the Credit Union here on line for the purchase of vehicles, homes, etc. as an example
The interest rates are fixed and not dependent on the fluctuation of the market conditions or the ever so changing economy in today's world,
For all the members having the same visions and mission the collection or payment of loans would not be a problem due to the commitment of members. Credit Unions in South Africa did not get as much exposure as one would like to have seen.
Other Countries has been administering Credit Unions for many years and more than 83 Million people has joined Credit Unions in America alone, and their assets exceed $4000 Million Dollars. South Africans or groups does not realise the unbelievable effect in joining a Credit Union could have on your life.
It has been pointed out that although the criteria for savings deposits taken from members should not exceed R9,9 Million the amount that could be borrowed by members could be as high as R30 Million, because instalments repaid by members could also be borrowed by members to have a multiplication effect. Credit Unions could have several functions and facilities as well, in order for members to develop and purchase anything they so desire by means of loans from their own Credit Union
In most cases you could borrow at a low rate of 10% and 3---5 times your own contribution.
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