For people who

• have been members for less than 2 years; or
• have not been saving regularly throughout the last year; or
• wish to borrow an amount which is more than 3 times their savings

The current interest charge is 2% per month, 26.82% APR.

Interest is charged on the reducing balance of the loan.

For people who

• have been members for over 2 years; and
• have been saving regularly throughout the last year; and
• wish to borrow an amount which is no more than 3 times their savings

The current interest charge is 1½% per month, 19.56% APR.

Interest is charged on the reducing balance of the loan.

For people who wish to borrow an amount which is no more than their savings.

The current interest charge is ¾% per month, 9.38% APR.

Interest is charged on the reducing balance of the loan.

One advantage of taking a secured loan, rather than withdrawing savings, is that you keep your savings intact. We believe that building up savings increases members’ financial security, but know how hard it can sometimes be to put money aside regularly. Taking a secured loan means that you do not have to start saving again from scratch.

Another advantage is that withdrawing savings can reduce the potential Life Insurance benefits payable to the nominated beneficiary in the event of a member’s death.