Reduction in the Interest Payable on Member Loans

Reduction in the Interest Payable on Member Loans

Dear Valued Member,
As the world focuses on the fight against the Coronavirus, Management of the UG Credit Union very much appreciates the difficulties brought on members by the Covid-19 pandemic.

As a measure to help minimize the impact on members, the Management Board has *temporarily reduced the monthly interest rate on loans from 2.00 % to 1.80% effective April 1, 2020.*

In addition, *charges on mobile transactions have been waived.*

It is the hope of the Board that this would modestly help ease the burden on members.

We remain one HAPPY FAMILY!

Thank you.