MCCU Annual Report - page II

To become a member of the Credit Union one must
have Permanent Shares! The value of a Permanent Share
is J$2,000.00. Permanent Shares can only be withdrawn
upon the closure of an account. Having Permanent
Shares is in keeping with certain international
accounting standards that govern credit unions across
the globe. These shares provide a stable source of long
term funds called capital for the Credit Union. Dividends
will be paid on Permanent Shares subject to profitability
Make the most of your hard earned money. The Solid
$aver is a savings account that works as hard as you do.
This account facilitates deposits and withdrawals on a
regular basis with interest being paid monthly on the
minimum daily balance. Requires a minimum balance of
Open a Share Savings Account and have access to
loans and other products & services available. Dividend
payments are made semi-anually. Requires a minimum
balance of $500.00
Have a lump sum of money that you want to put away
for the medium to long term and earn attractive returns
at the same time? A Certificate of Deposit Account
can do that for you. Requires a minimum balance of
Looking for an account that will provide you with easy
access to your savings when you need it most? Take care
of your day to day expenses with a sure gain deposit
account. Access your account anytime with an Access
Plus ATM card. Interest payments are made semi-anually.
Requires a minimum balance of $1,000.00.
Accelerate your journey to success with a Wealth
Accelerator Investment Plan. Start with a minimum of
$50,000 and follow up with deposits of $10,000.00 or
more at anytime. Invest for periods of 6 to 36 months
and benefit from an attractive interest rate. Net interest
may be withdrawn from the Wealth Accelerator without
penalty. Up to 90% of the Wealth Accelerator account
balance may be used as collateral for a loan at the Credit
Want to reach your goal within the next 12 months?
Here is a flexible partner plan where your money is safe
and secure plus you get a bonus on your savings at the
end of the period. You don’t pay the banker!
Offers 4 fixedpayment periods (12week, 20weeks,
32weeks, 48weeks)
Member chooses payment frequency: weekly,
fortnightly ormonthly
Minimumfixedpayments of $500weekly (per
hand) , $1,000 fortnightly (per hand) or $2,000
monthly (per hand)
Earn a bonus on your draw*
Bonus is calculated as a percentage of the
equivalent of aweekly throwand is paid at the end
of the contractual period.
* Conditions apply
Need some help to reach your goal? Reap the benefits
of a Golden Harvest Account and reach your goal
with ease. Facilitates fixed monthly deposits within
a specific period of 1 – 10 years in order to achieve a
specific financial goal. In the event of death, or total
and permanent disability before the period has ended,
an insurance benefit is payable. This is equal to the
difference between the savings goal and the attained
savings at the time of death or permanent disability. You
or your beneficiaries therefore receive the full amount
that you were saving towards.
Saving Options
Solid $aver
Share Account
Certificate of
Sure Gain
Deposit Account
Plan Plus
Savings Plan
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