The Admission Loan is a product designed to help members finance their education expenses.
It provides financial support to members for the payment of school fees based on the admission letter, ensuring that the member or their dependents can access quality education without financial stress.
- Interest Rate: 15% per annum (fixed interest)
- Loan Term: 12 months repayment period
- Loan Amount: Determined based on the fees stated in the admission letter
- Considerations: Affordability and member’s savings balance
- Must be a registered member of the UENR Co-operative Credit Union
- Must have a verifiable source of income or savings within the Credit Union
- The applicant or their dependent must have an official admission letter from an accredited institution
- Completed loan application form
- Copy of the admission letter from the educational institution
- Proof of affordability (e.g., payslip or financial statement)
- Proof of savings contribution with the Credit Union