The main objective of a credit union is the promotion of thrift that is directed at fulfilling human and social needs. It collects savings from members by issuing shares and uses these funds to make loans to the members.
Other objectives of our Credit Union :
- Serve their members by providing cheap credit instead of maximizing profit on their head as do other financial institution
- Promote unity among men by encouraging them to group together to accomplish what cannot be done alone
- Achieve economic independence by encouraging the habit of thrift
- Combat usurers and other form of exploitation and
- Establish economic democracy through a system which allows each individually to participate and exercise control over their financial institution serving them.
- The creation of a source of credit for the benefit of the members at a fair and reasonable rate of interest.
- The use and control of the members’ savings for their mutual benefit.
- The training and education of members in the wise use of money and in the management of their financial affairs.
- Inculcate a savings culture among kids.