Service to Members

Service to Members

Credit union services are directed to improve the economic and social well being of all members.

Distribution to Members

To encourage thrift through savings and thus to provide loans and other services, a fair rate of interest is paid on savings and deposits, within the capability of the credit union.

The surplus arising out of the operations of the credit union after covering the cost of finance, operating costs, provision for loan losses and ensuring appropriate reserve levels benefits all members. This surplus may be distributed among members in proportion to their transactions with the credit union as dividends on shares, or directed to improved or additional services required by the members.

Building Financial Stability

A prime concern of credit unions is to build their financial strength, including adequate reserves and internal controls that will ensure continued service to membership.

International Co-operative Alliance