This program is designed to enable members undertaking major development projects—such as house construction, land purchase, or other asset financing—to qualify for higher loan amounts.
Members enrolled in this program enjoy similar loan terms as those applicable to other loans such as Development Loans and Special Loans. The key difference lies in the loan multiplier applied to a member’s deposits and shares, as follows:
- Preferential members: up to five (5) times
- Premium members: up to six (6) times
Program Requirements and Conditions
- The member must complete and sign a program agreement form at the time of enrollment.
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The member must capitalize (forgo withdrawal of) dividends/interest declared on deposits and shares for:
- Two (2) consecutive years for Preferential members
- Three (3) consecutive years for Premium members
- Members qualify for loan borrowing from the first year of dividend/interest forfeiture.
- Where a member applies for a loan top-up under the same terms, the forfeiture period shall restart from the year preceding the top-up.
- Upon completion of the capitalization period, the member shall resume enjoyment of dividends/interest on deposits and shares.