credit-union-bootstrap
Cooperative Union
CUB is a credit union firm located in Little Rock, Arkansas. It's a group of people who are pooled into a community of 12 people each who contribute a guaranty deposit (an equivalent of the monthly savings) and monthly contributions making 13 times in a year. Each person in a community is paired with the person adjacent to them as in a wall clock (3-9, 6-12 etc) thereby making every person in the community pool half of their annual contribution twice in a year and once in 6 months. The system charges a percentage deduction of 10% from the annual contribution. This is saved towards the perks and benefits of members of the credit union society. A member can decide to take his/her annual contribution based on circumstances or financial difficulties the person is going through and an appointment must be scheduled for that to be granted. Members can take interest free loans on completion of a 2 year cycle and the longer each member stays the higher the benefits and perks.
Cooperative Union
CUB is a credit union firm located in Little Rock, Arkansas. It's a group of people who are pooled into a community of 12 people each who contribute a guaranty deposit (an equivalent of the monthly savings) and monthly contributions making 13 times in a year. Each person in a community is paired with the person adjacent to them as in a wall clock (3-9, 6-12 etc) thereby making every person in the community pool half of their annual contribution twice in a year and once in 6 months. The system charges a percentage deduction of 10% from the annual contribution. This is saved towards the perks and benefits of members of the credit union society. A member can decide to take his/her annual contribution based on circumstances or financial difficulties the person is going through and an appointment must be scheduled for that to be granted. Members can take interest free loans on completion of a 2 year cycle and the longer each member stays the higher the benefits and perks.
MIT License