Retired members who apply for RM10,000/- loan are
required to make arrangement to pay their loan instalments by standing
orders from the respective banks where they draw their monthly pensions.
Your Co-opperative is aware that members taking these loans will incur
additional payments towards the monthly standing order charges imposed
by the banks.
The Board at its meeting held on 12 October 2009
had decided that the co-operative will absorb the charges and return
the money to members as rebates.
This will help ease the financial burden of the
retired members concerned.
To qualify for the full rebates, members will have
to produce evidence of the exact amount charged by their respective
banks and the money will then be credited into their personal saving
accounts where they can withdraw them anytime during office hours.
This exercise is effective from 1 January 2010.