You are a part owner
At Lifetime Co-operative Credit Union, sharing is caring!
As a member of our credit union, you benefit from owning shares in the Credit Union.
(a) Qualifying Shares (D6)
Qualifying shares entitle you to full membership with the Credit Union as well as:
- The ability to exercise your membership right to vote at the yearly AGM.
- Obtain loans from the Credit Union*.
- Receive annual dividend payments (when such is paid).
* The Credit Union’s loans policy will apply to the application.
(b) Shares Account (S0)
Funds deposited into this account will earn dividends which are paid annually as approved by the Credit Union’s Board of Directors and dependent on the Credit Union’s financial performance.
(c) Special Shares (S1)
This is a compulsory saving account for persons who have loans that may exceed their personal savings.
The compulsory share account acts as additional security for the loan and assists you to continue saving while repaying a loan.
This account also earns dividends annually when they are paid.