A. MEMBERS LOAN
1. Must have been a member for at least 6 months with evidence regular savings.
2. Obtain a loan form from the CICS office.
3. Submit a written application addressed to the Management Committee Director, Embassy family (IB) CICS along with the loan form to the CICS office.
4. The loan form must be signed by 2 Sureties/Guarantors who are member of the Cooperative society with Deposit.
5. The loan request will be processed within a maximum of 10 working days.
6. An offer letter which shall convey the terms and conditions of the loan shall be issued. The member is therefore expected to accept and return same to them CICS before disbursement of the loan.
7. An applicant is expected to submit Post-dated cheque(s) for the required payment period.
8. A member shall not be entitled to another loan until full repayment of the existing one. He may however enjoy the assets acquisition facility along with the members loan.
9. Irregular Deposit of large sums of money for the purpose of taking loan is highly prohibited.
B. ASSET ACQUISITION LOAN (A.C.F MAX 1,2,3)
1. Must have been a member for at least 6 months with evidence of regular savings.
2. Obtain a loan form from the CICS office.
3. Obtain a pro-formal invoice of the item/s you wish to buy.
4. Pay 20 or 30% of the total cost as equity depending on the type of asset and the amount involved.
5. Submit a written application addressed to the Management Committee Director, Embassy family (IB) CICS along with the loan form, pro-formal invoice and the payment evidence of the equity to the CICS office.
6. Items like Motor Vehicle, big Generator and other big machines.