Loan Accounts

This is an account in which the credit facility of a member is recorded. The Union handles different type of Credit facilities with a few analyzed below
•    Long and medium term loans: these are loans for various purposes and the repayment duration ranges up to 60months.
•    Syndicated loans: these are loans granted to salary earners of both public and private sector who are paid through the Union. Such loan facilities can last for up to 60 months for state workers and 24months of private sector worker
•    Express Credit: this is a credit facility to a member who already  has a loan (s) and the repayment duration is 4 (four) months
•    Njangi Financing: this is a credit facility to registered meeting groups. Usually, it is for a 12months duration
•    Overfraft facilities: this facility is given to civil servants, pensioners, and other salary earners whose salaries are paid through the union. Duration is 1months deducted at source at the end of the months
•    Rural Development Fund Loan (RDF): these are loans to farming groups and the repayment is based on the circle of the activity
•    School Fees Loan: this loan is for members who find it difficult to pay their children’s fee. The union helps in paying while the members reimburse the union gradually. This loan is given out for duration of 10 months with a small interest rate.
•    Callbox angels: a credit facility given to call boxes whose commission is paid through the union it is implemented so far in Fako Division managed by the Buea office and last for 12months.
•    Daily savings loans: a credit facility available to daily savers to a maximum of 500.000 FRS in four (4) months to help build up their capital.