RENCAM Credit Union Membership
Benefits of membership
Membership of RENCAM Credit Union makes financial and social sense for you as well as for your community:
- As a saver, you know your savings are completely safe as they are covered by the UK Financial Services Compensation Scheme (FSCS) for up to £85,000 in the event where the Credit Union became insolvent.
- As a saver, you take comfort in knowing that your savings are used to lend to people from your own community.
- Also as a saver, you are entitled to dividends when they are declared annualy.
- As a borrower, you know the Credit Union can provide you with an affordable and flexible loan. There are no hidden charges with loans, no penalties if you repay early.
- When you send money home through RENCAM Credit Union’s money remittance service, you have a share in the profits (currently 25p for every £3.00 fee is credited to your savings account). This means you send money home to your loved ones at a reduced fee of £2.75 for every £100 sent!
- As a member and user of its services, you are helping RENCAM Credit Union to grow and potentially provide employment opportunities to people of your community.
Adults – 18 years and above:
- You are a Cameroonian, foreign spouse of a Cameroonian or of another nationality/ethnicity with an interest in Cameroonian heritage and
- You are ordinarily resident in the UK
Young Person – 0 to 18 years:
- Either of your parents or guardian must be a member of RENCAM Credit Union
Corporates and Groups
- Any UK-based Cameroon cultural or social groups, charities and other community interest businesses with an interest in the Cameroonian heritage