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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:

  1. To provide a reasonable source of funds to members.

  2. To protect members’ Savings and Deposits.

  3. To ensure that loans are adequately secured.

  4. 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

  1. The Credit Committee.

  2. The Credit Union Office.

Who Should Read This Policy

  1. Credit Committee.

  2. Board of Directors.

  3. Supervisory Committee.

  4. Office Staff.