What is a share account?

A share account is the main savings account in the credit union. It is the only account which qualifies you as a member and makes you eligible for a loan.

The Co-operative Society's Act prevents credit unions from offering joint accounts under the principle one member one vote.

Do you pay interest on savings?

Yes, interest is  paid on Savings Maximizer, Christmas Basket, Earner Plus, Fixed Deposit, Y.O.U.T.H., Prosperity Plus and Golden Harvest Accounts.

Why is interest not paid on shares?

Under the Co-operative Society's Act & Regulations only a dividend, may be paid on shares.
The amount paid is determined by the surplus made by the Credit Union.

What amount of dividend is paid on shares?

This is determined by the surplus (if any) made by the Credit Union and agreed to by the members at the Annual General Meeting.