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Savings
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Partner Plan |
The real Jamaican Partner plan with a twist. This plan was designed to benefit our memebers in a number of ways. These benefits include:
- The member doesn't pay the Credit Union, the Credit Union pays you.
- The member earns a bonus at the end of the plan.
Characteristics
- A minimum hand of $500 should be thrown each week.
- No limit to the number of hands.
- Hands may be thrown weekly, fortnightly or monthly.
- At maturity, the member has the option of transferring the lump sum to their savings: fixed deposit or regular deposits.
- Monies may be accessed via the ATM Multilink Machines at maturity of the plan, on the member's request.
- Members can access loan using the balance in the account as security.
You can earn a bonus as follows:
- 16 weeks (4 months) ................. ¼ hand
- 24 weeks (6 months) .............. ½ hand
- 36 weeks (9 months) ................ 1 ¼ hands
- 48 weeks (12 months) .............. 2 ¼ hands
Documentation
Example
| Saving Amount |
Period |
Draw |
| $500.00 | 48 weeks | $25,125.00 |
| $1,000.00 | 48 weeks | $50,250.00 |
| $2,000.00 | 48 weeks | $100,500.00 |
| $5,000.00 | 48 weeks | $251,250.00 |
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