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AGECU LOAN POLICY
Policy Statement
This Loans Policy provides the necessary rules and guidelines to members to ensure that the granting of loans and the administration of the Loan Portfolio by the Credit Committee are managed in order to achieve the set objectives of the Credit Union.
Reason For Policy
These objectives are:
To provide a reasonable source of funds to members.
To protect members’ Savings and Deposits.
To ensure that loans are adequately secured.
To ensure that any member applying for a loan is not discriminated against because of sex, race, colour, creed, religion, political or government affiliation.
Entities Affected by This Policy
The Credit Committee.
The Credit Union Office.
Who Should Read This Policy
Credit Committee.
Board of Directors.
Supervisory Committee.
Office Staff.