June 14, 2021 by Secretary Treasure
Greetings from the SWCU Board & Staff.
No doubt, Members are aware by now, that government (MOH) has declared COVID19 restrictions on all operations and meetings classified as non-essential due to worsening coronavirus infections in the country. ....
June 14, 2021 by Secretary Treasure
Greetings from the SWCU Board & Staff.
No doubt, Members are aware by now, that government (MOH) has declared COVID19 restrictions on all operations and meetings classified as non-essential due to worsening coronavirus infections in the country. ....
A group of Fiji Public Service Association (FPSA) members met at the Association’s Headquarters at Waimanu Road,Suva under the leadership of the FPSA General Secretary, Bro Rajeshwar Singh to lay the foundations of a Credit Union.
The name ‘Service Worker Credit Union’ (SWCU) was suggested by the General Secretary. Learning from experiences over the years and the need to bring benefits to the members, Bro Singh succeeded in convincing a group of members to launch the Credit Union which is now firmly located within the FPSA premises with good amenities.
The Credit Union Act specifies that Credit Unions objectives are to promote savings and loans among members. Credit Unions are also allowed to invest in stocks and securities, borrow money and purchase or lease land. Credit Unions have the authority to charge entrance fee of members, receive savings as payments of shares or as deposits, and make loans to members for productive purposes. In practice, they are focused on collecting shares from members through salary deductions. Members are then allowed to modestly leverage their shares and borrow money, mostly for consumer purposes. Interest rates are capped at one percent per month, or twelve percent annually.
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We promote thrift among our members and provide financial assistance under a common bond to improve the quality of family life and social well being of members and their families.
To be the leading Credit Union with a primary mission to provide financial services to our members.
Checkout our frequently asked questions it may help you understand more about what we do.
It is an organization of people, within a dedicated group, registered under Credit Union Act, self-managed with each member entitled to a single vote. And it’s main objects are to supply it’s members: With any easy and convient way of increasing their savings. A source of credit without usury. A training in the democratic management of their money. Finally, we can say a credit union is a way of teaching a group of people to have a concern for each other. In the Credit Union, members help each other.
In the case of the case of the Service Worker Credit Union any person eligible for membership of the Fiji Public Service Association, and who, in the opinion of the Board of Directors, is honest, industritous, of good habits and undertakes to the provisions of the Credit Union Act and By-Laws.
Yes, at any time provided you don’t owe to the Credit Union or are able to pay-off your debts.
As soon as you join the Fiji Public Service Association, you are eligible to join the SWCU. We understand the financial hardship faced at this time and wish to assist you in whatever way possible.
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