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Home Forums Annual General Meeting 2021 Q&A Cheque Issuance

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    Q: Clarification on the Credit Union’s decision to stop preparing cheques for Members.

    A: We discourage the issuance of cheques due to (a) reduction in cheque clearing time at Member’s bank accounts (4-7 days) to improve the Member’s quicker access to cash (b) COVID-19 restrictions (c) increasing incidences with cheque fraud that are affecting the whole financial industry

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