Savings and loans
Share capital
Shares make you a part-owner. They set your dividend, though never your vote — that stays one per member.
Buying shares is what makes you an owner rather than a customer. Share capital is the co-operative's permanent capital base, and it is what dividends are calculated against.
Whatever you hold in shares, you have exactly one vote at the general meeting. That is a rule of the co-operative movement and it does not bend.
What you need to qualify
- Approved membership of the co-operative
- Payment of the share capital confirmed on approval
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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Development loan
For growing a business: stock, equipment, premises or the working capital to take on a bigger order.
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Emergency loan
A smaller, faster facility for medical costs, funerals and the things that do not wait.