Loan Eligibility

Unless otherwise disqualified, a member who pays monthly subscription in accordance with By-Laws 8.5.1. shall be eligible for a loan, secured by the Loan Default Scheme or Sureties Scheme.

A Member must satisfy the following requirements to be eligible to apply for a loan;
  1. He has been a member for at least 6 months;
  2. He is at least 21 years of age for male and 18 years of age for female; and
  3. The loan is secured by Sureties Scheme Policy or Insurance Policy Scheme except for Personal Surety Loan.
  4. Only Ordinary Members shall be eligible for the Surety Scheme and to stand as surety for a loan.