A Credit Union is a non-profit making, financial co-operative, owned and operated by its members within a common bond. Its purpose is to help members with their day to day financial needs through regular savings and fair and affordable access to loans.
Aims of a Credit Union:
- The promotion of thrift among members by the accumulation of their savings.
- To provide loans for the benefit of members at a fair and reasonable rate of interest.
- The use and control of members’ savings for their mutual benefit.
- Advising and educating members in the wise use of money and the management of their finances.