Overdraft Facility

This facility is to provide access to cash resources on a temporary basis for:

  • Members who have a registered business.
  • Members who are contracted as tradesmen or professionals to perform contracts of a short duration.
  • Members who are in receipt of regular emolument income who may need access to additional cash resources on a short-term basis.
  • To treat with members' accounts which are overdrawn because of delays in settling transactions.
  • Government traveling officers who have obtained the necessary approvals to purchase motor vehicles or other assets and who are desirous of obtaining bridging finance.

The amount of this facility will be limited to the value of the contract awarded but should not exceed $100,000.00 at any time to any one member.

Interest will be calculated at the rate of 1.75% per month on the amount outstanding.

To qualify for this facility:

  • Member must apply at home branch.
  • Must be a Member for at least one (1) year with a regular savings pattern.

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