Withdrawable Shares

In your Withdraw-able Share account monies that are deposited can be withdrawn and or used as security for a loan. When a member uses his or her withdraw-able shares as security for a loan, withdrawals will be restricted or monies put on hold until the loan is cleared. Also, members may be asked to save to Withdraw-able Shares along with loan payments in order to increase loan security and grow savings.

Withdraw-able Shares are tax deductible and interest is paid bi-annually, usually in January and July, at a rate determined by the Board of Directors. As your Withdraw-able Share balance increases, your interest will also increase. The same interest rate applies to Ordinary Deposits.

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