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Home Forums Annual General Meeting 2020 Q&A Society Operations Reply To: Society Operations

#2237
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Q: What is happening with the VENTURE cards that are serviced via JMMB? A lot of people are having problems using the card.

A: The JMMB Card issue is being addressed by JMMB as the problem was encountered when they changed to a new banking system. We are working closely with them to resolve in the shortest possible timeframe.

Q: Would Venture consider partnering with another financial institution besides JMMB, for example First Citizens Bank?

A: VENTURE is currently considering all available options to serve our Members.

Q: What strategies and initiatives will the credit union be taking to assist Members who have been affected either by unemployment or reduced business for the year 2021 and beyond?

A: VENTURE is continuously reviewing approaches to assisting Members who are experiencing financial difficulties within the parameters outlined in the our policy framework. You are invited to visit and discuss your personal situation with one of our loans officers.

Q: What is the procedure for unsecured loans for the small business owner wanting to expand their business?

A: The Member can submit their loan proposal together with financing requirements eg. Business plan, financials etc. The application will be reviewed to determine the risk factors, VENTURE’s membership tolerance for risk and to ensure the protection of other Members’ funds to prevent further deterioration of the loan portfolio and possible debt write off.

Q: Do persons over 60 benefit from the Credit Union. Please share ways they can. Say something on health plan for members over 60

A: A listing of all our products and services are located on our website https://www.venturecreditunion.com/. This includes our insurance products. We currently have our Silver Advantage Card geared towards Members 55yrs and over. With this card Members enjoy Preferential annual rate on your Fixed Deposit, Preferential rate on loans for any purpose (subject to normal lending criteria),Exemption on all service charges (excluding legal and Credit Bureau fees),Waiver of Visa Debit Card fee,Quick service lines at VENTURE branches, No more waiting for loan interviews, Zero Membership Fees, A Free Silver Advantage Card. We are currently working to increase the benefits of this programme.

Q: How does one get to serve on the “Member of the Future Fund” Committee?

A: All Committees are appointed by the Board and selection done by the Chairman of that Committee