Click Here to Register for our AGM 2023
Home › Forums › Annual General Meeting 2022 Q&A › Credit Committee Report
- 31/03/2022 at 3:01 pm #13291AdminKeymaster
Q: How are we with respect to overall debt write off?
A: With this year’s (2022) proposal, we would be on par with industry standards in respect of bad debt write-off at 365 days.
Q: Explain credit rating and how can a bad rating be
A: Credit rating is an estimate of a person’s ability to honor debts and financial commitments when they become due. Someone who wishes to improve their credit rating should seek to meet their current financial commitments on time.
Q: Where can I get the past years dividends percentages and reports
A: Reports for Dividend of past years can be accessed online at venturecreditunion.com. /Our Story/Annual reports.
Q: Are there any changes to loan rates?
A: From time to time the Society has loan promotions that offer special interest rates that are quite comparable. Kindly come in or call one of loan officers for further information
Q: As I’m not working regular what would happen to my shares as I am paying a loan that is in arrears?
A: Please come in to the Credit Union to speak with one of our officers with regard to payment terms
Q: Do you lend to clients wishing to consolidate to make a fresh start
A: Yes we do, Please look out for our Debt Consolidation Loan Promotion coming soon. Kindly call or come in to speak with one of our loan officers
Q: How do you get to do voluntary service on the CC
A: One must be nominated and recommended by the Nominating Committee. Kindly see criteria for acceptance on page 10 of the Annual report which is available online
Q: Are there going to be more loan promotions during 2022
A: The Credit Union continues to have loan promotions throughout the year. Please call or come in to speak with one of our loan officers. See us online as well
Q: Can NIS pensioners borrow.
A: Certainly, call us at 225-4828 in or come in and speak with one of loan officers for more information please.
Q: What is committee doing to improve the member experience as compared to external lending institutions in terms of borrowing as the process is usually tedious from past experience?
A: The Society is at present assessing our loan processes to improve turn around time for loans and ensure a more robust process