Member Share Capital represents members’ investment in their credit union and forms the share capital of the Credit Union. Shares are your equity in NCCU and cannot be withdrawn but can be transferred to another member. The price per Share is only $50, and new members must purchase at least one. With one Share, you are entitled to name one beneficiary to your account but with more Shares, you can name multiple beneficiaries. Do consider purchasing more Shares annually for building up your share capital and strengthening NCCU’s capital base.
Take Note: Members requesting loans are required to invest in more than one Share.
| LOAN AMOUNT | MEMBER SHARES NEEDED |
|---|---|
| Loans of up to $10,000 | At least two (2) shares |
| Loans of up to $10,001 – $50,000 | Four (4) shares |
| Loans of up to $50,001 – $100,000 | Six (6) shares |
| Loans above $100,001 | Seven (7) shares and one (1) additional share for multiples of $50,000 thereafter |
