Funerals often come with some unexpected financial burdens, and in trying times, one needs financial support.
The Funeral Loan provides quick funds to members who need help in covering funeral-related expenses so that their loved ones receive the most dignified send-off possible. This is a short-term loan designed to give immediate relief with the most flexible and hassle-free application process so that members can focus on what is important during such times.
- Interest Rate: 5% per month (flat rate)
- Loan Term: 1-month repayment period
- Loan Amount: Determined based on affordability and savings balance
Considerations: Affordability and member’s savings balance
- Must be a registered member of the UENR Co-operative Credit Union
- Must provide proof of a funeral event for which funds are needed
- Completed loan application form
- Copy of the funeral invitation card as proof of the event
- Proof of affordability (e.g., recent payslip or financial statement)
- Proof of savings contribution with the Credit Union