Savings and loans
Business training and mentorship
Co-operative education is a founding principle. A well-informed membership is the point.
The society pursues a policy of ensuring that the general membership is fully educated on the society's status and on co-operative philosophy. In practice that means regular training in bookkeeping, pricing, marketing and governance, and mentorship between members.
What you need to qualify
- Approved membership of the co-operative
Questions about borrowing
How do I apply for a loan?
Build a savings record first, then complete a loan application form at the office. The loans officer will discuss the amount, the purpose, the repayment schedule and any security required before the loan goes for approval.
Why are your loans cheaper than a bank's?
Because the money is yours. The co-operative lends out the savings that members have pooled, and the goal is service rather than profit. Interest paid on savings and shares is limited and proportionate to the interest charged on loans.
Other products
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Savings account
The heart of the co-operative. Members contribute every month and build the fund everyone borrows from.
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Share capital
Shares make you a part-owner. They set your dividend, though never your vote — that stays one per member.
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Development loan
For growing a business: stock, equipment, premises or the working capital to take on a bigger order.