This account offers members an opportunity to save for their desires/dreams without liquidity stress.
- This account earns 7.5% interest computed and credited on a quarterly basis based on average period balance
- No Minimum balance is required
- Not mandatory to all members
- Savings arrangements and withdraw plans are known at the time of account opening.
- A 0.2% administrative charge is levied on amount requested.
- Not encumbered with any Loans, unless when risk weighting of total loan is high.
- Available for family members who are registered and approved associates
- No overdrafts are allowed on this account.
- Allows members to save for a variety of needs like:
- School fees
- Funeral expenses or Funeral Insurance
- Personal or family/friend’s Wedding
- Purchase of Assets
- Vacation, Holiday, Festival plans among others.
- Can be used to settle final Loan Pay off or net off loans if requested by member
- Savings are conveniently accumulated through payroll deductions and direct banking
- No ledger maintenance or charges are levied on this account
- Allows payments directly to 3rd Parties say Hotels, Schools, Universities, Funeral service companies, Assets sellers Etc.
- Allow joint members to open a single account
- Fully completed account opening application form
- Proper application of the purpose of savings