SUSU Savings Plan

Susu $$ Savings Plan is not a SUSU. It is not that all who save that week get a hand of all the moneys being saved by every body else that week.

It is a SAVINGS PLAN called Susu savings because of the characteristics of the plan.

It is paid weekly.

It runs for a specified time period.

Rewards are paid not interest, (rewards are more than interest paid on regular savings)

Participants save faster.

It is not a regular savings account where members can put money in and then withdraw it.

It must run for the specified time period chosen by the applicant.

All payments must be made within the specified time.

No late payments will be allowed.

Participants who are members should agree to have the C.U. deduct from the regular savings or other savings account if they are late for a weekly payment. (This is stated on the application form)

The form must be completely filled out with all information required.

There are four (4) time periods from which participants can choose:16, 24, 36 or 48 weeks

You choose the time within which you want to save and how much you want to save during the specified period either $50.00; $100.00; $150.00 or $200.00

1f you choose a 16 week period then you decide how much you want to SAVE weekly during those 16 weeks, whether 50, 100, 150 or 200 dollars
For the 16 week period, the reward is one quarter of the hand. (If you choose a $50 hand, weekly, then the reward will be ¼ of that fifty dollars = $12.50. At the end of the 16th week you will collect $812.50
If one chooses 16 weeks but wants to save 100 dollars, then ¼ of the hundred dollars will be the reward for the 16 week period you will collect $1625.00 etc.

The targeted members are: Self employed: All vendors: Market, Fish, Tourist and others.

Weekly paid workers; Bus owners, drivers & conductors; Construction workers and any group interested in participating. If you are not yet a member, join today and participate and reap the benefits.

Fortnightly persons would have to double their payment to cover the weeks between paydays. For instance if someone is paid fortnightly and wants to save $50.00 weekly, that persons can pay $100.00 each fortnight. Monthly paid workers can pay $200 monthly if the want a fifty dollar hand.

See info below:

Apply for membership now.

Copyright © 2011 • The Communal Co-operative Credit Union Ltd. All Rights Reserved.