Savings

Ordinary Savings

  • Compulsory for all members.
  • Minimum monthly savings of P100.00.

In addition to the ordinary savings account, a member may open another specific savings account.

Optional Savings Accounts

A savings account designed to provide a savings facility for parents to save for their children who have not reached the maturity age. The account helps parents to plan for their children’s education through savings accumulation for a long period. The account operates in the following manner:

  • The member opens an account for each child as he whishes.
  • An opening deposit of P200.00 is applicable.
  • Minimum monthly savings of P50.00.
  • Interest rate is standard at 3% for minimum balance of P1000.00.
  • The account name is the child's name, while the parent has the sole mandate to operate it.
  • Withdrawal from the account is permitted after every for months provided a balance of P1000.00 be maintained.

A withdrawal deposit account, which gives members a facility to save for eventualities like school fees, holidays, weddings, etc. The account operates in the following manner:

  • The member makes an opening deposit of P200.00.
  • Minimum monthly savings of P100.00.
  • Save consistently for at least six months before withdrawal, subsequent three months allowable withdrawals.
  • The account has P500.00 minimum account maintenance balance.
  • Interest rate is standard at 5% for minimum balance of P2000.00.

A savings account designed to provide a savings facility to make post festive season easier. The account operates in the following manner:

  • The member makes an opening deposit of P250.00.
  • Minimum monthly savings of P100.00.
  • A non-withdrawal account.
  • Interest rate is standard at 6% for full term for minimum balance of P1000.00.
  • Pay-out after 12 months of continuous saving.
  • Funds can be re-invested for another 12 months.