Saturday, August 30, 2008

BWUCCUL carefully managing loan portfolio

Although seeking to move forward with caution, the Credit Union will still continue to pursue consumer and vehicle loans, debt consolidation and unsecured lines of credit, as these continue to be the major components of their short- to medium-term lending.

The report stated that in the earlier part of the financial year, the BWUCCUL limited its loans for mortgages to one per month in order to control the risk of using short-term deposits to lend long term.

In addition, the Board sought other alternatives to ensure that funds were available for long-term lending, it added.

In seeking to accomplish this, they successfully negotiated a loan from the Housing Credit Fund via the Central Bank to lend to lower income members, so as to aid them in realising their dream of owing a piece of the rock.



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