EXAMPLE OF A COMMUNITY CREDIT UNION. This is a Profit Sharing, Democratically run Financial Cooperative owned and controlled by its Members who will pool savings to offer low cost effective loans and flexible financial products to its members,pay dividend to members at the end of the year.We will be Registered with the Financial Services Authority(FSA GOVT REGULATED)and the Association Of British Credit Union Ltd(ABCUL) AIMS -To encourage our members to save regularly -Current Accounts -Mortgages -Prepaid Visa Cards -Funeral Assurance -Life Insurance -Financial freedom and Empowerment -Business investments -to access low cost effective loans -Save money to invest in Zimbabwe when the time is right -Invest in Social changes in Zimbabwe -Community integration CONSTITUTION Welcome Zimbabwe Diaspora Credit Union aims to provide all those within its common bond with access to a safe, community owned institution which provides an easy way to save and a cheap way to borrow. FINANCIAL By encouraging thrift amongst its members through the accumulation of their savings. By provision of loans to members at a fair and reasonable rate of interest. By using members savings for their mutual benefit. To assist members in the wise use of money and the management of their financial affairs. Credit Union Finances to be regulated by the FSA(financial service authority) -3 bank signatories Chairperson,Treasurer and Secretary -Finacial report to be presentated to members quarterly SOCIAL By encouraging good neighbourliness and Togetherness amoung Zimbabweans of all colours,creed and race, cultivating concern amongst the members by caring for and helping each other. To act as representative on behalf of its members to other bodies both for their own benefit and the greater good of the Zimbabwean Community in UK. PERSONAL To recognize the value of every member of the Zimbabwean community be they young, old, fit or disabled. To encourage people to recognise their individual skills and to use them in the service of others. EDUCATIONAL The Credit Union will be active in the promotion and provision of education and training for its members. EQUAL OPPORTUNITY Zimbabwe Diaspora Credit Union is an equal opportunities organisation, which exists for the benefit of each of its members and the greater good of the Zimbabwean community. DECISIONS All decisions made by Zimbabwe Diaspora Credit Union are taken with full regard for the interests of its members and the Zimbabwean community as a whole. Zim Diaspora Credit Union Limited does not take deposits at the moment; and it is not currently regulated by the Financial Services Authority and neither is it, nor any transactions with it, covered by the Financial Services Compensation Scheme. PLEASE APPLY FOR MEMBERSHIP
Posted on: Sat, 26 Jul 2014 17:36:14 +0000
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