Loans

Regular Loan: This is a general loan accessed by all members and recovered through payroll deductions, bank standing order, post dated cheques, direct payment over the counter etc. This type of loan attracts a moderate and flexible interest rate. The maximum repayment duration is 36 months. Terms and Conditions apply.

Commercial Loans: This is a short term Loan contracted by a member to promote a private business.  It has a moderate interest rate. The maximum period for the loan repayment is 10months. Terms and Conditions apply.

• Special Loan: This is a type of loan accessed by members for a special purpose and is granted subject to availability of funds and at a higher but moderate interest rate. Terms and Conditions apply.

Micro Loan: This is a type of loan granted to a group of petty traders involved in the same trade. The loans are given for a maximum period of six months. Group members must join the Union for One to Three months before a loan can be advanced to them. Terms and Conditions apply.

Hot Line Loan: This is a short-term loan contracted by a member for a period of one month or up to three months upon negotiation. An amount not exceeding 50% of a member’s net salary. Terms and Conditions apply.

Agricultural Loan: This is a loan granted to a group of farmers planting the same crop. The loans are given for a maximum period of six months. Group members must join the Union for One to Three months before a loan is granted. Terms and Conditions apply.