Our PCA will fit your lifestyle and make life a lot easier for you. Our PCA helps you to manage easily your day-to-day expenses. It's very simple and straightforward.
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"From the Cradle to the Grave" Funeral Benefit:
Holy Redeemer Credit Union takes great pride in introducing this unique Funeral Benefit to its members as a gesture of its continued efforts to be among the leaders in the Credit Union Movement and a staunch supporter of the cooperative way of doing things.
This new product is available for the benefit of all HRCU members. We have taken all measures to include our members - "From the Cradle to the Grave"
We strongly advise members to start saving because the only requirement for enrollment other than being a member of HRCU, is to maintain a minimum of $125 in savings.
HRCU's Funeral Benefit will assist your bereaved loved ones in their hour of greatest need. This special product is designed to provide immediate financial assistance whenever your family needs it most.
This special product will give you "peace of mind" knowing that you have made final arrangements for that day which we all must face.
Funeral Benefit Highlights include:
- Available for HRCU members regardless of age.
- To be eligible to enroll in the scheme a member MUST maintain a minimum savings balance of $100.00. Failure to comply shall result in non-payment of benefits upon death.
- Funeral Benefits effective since July 1st, 2002
- All members who joined HRCU before January 1st, 2005 automatically qualify if they meet the minimum savings requirement (a member who joined at birth and lives to be a 100 years will only have paid $2,400 but yet will be entitled to $4000 in benefits).
- New members (after January 1st, 2005) joining the scheme will have to wait twelve months for coverage to become effective. Accidental death qualifies for cash benefit payments during this period however.
- New members (after January 1st , 2005) who join on or after their 50th birthday will only qualify for 50% of cash settlement (members who join on their 50th birthday and live to be 100 years will only have paid $1200 but yet will be entitled to $2000 in benefits )
- Benefits will be paid to beneficiary as stated on HRCU's Membership Card
- Cost will be $2 monthly but debited to accounts annually ($2 x 12 months = $24) on May 1st.
- There will be no medical exam required.
- Exclusions from benefits for suicide (within 3 years); war/ nuclear/ terrorism; committing or attempting to commit a felony or crime; and, operating a motor vehicle while intoxicated
- HRCU reserve the right to terminate this Funeral Benefit giving 31 days notice.
- Benefits upon proof of death of member will be a cash settlement of $4000.
What a golden opportunity to provide some measure of financial comfort whenever you depart this life !!
Holy Redeemer Credit Union offers both Personal and Mortgage Loans. Personal Loans cover provident and productive purposes, including Student Loans. Mortgage Loans cover Housing & Construction. All loans are subject to 12% per annum (1% monthly on the declining balance) interest charge and are granted for varying lengths of time depending on what is negotiated. Members are usually awarded an Interest Rebate for meeting their payments as promised - normally 5% or 10% of total interest paid. This makes the effective interest rate charged on loans even lower.
