Cheque Exchange

Cheque Exchange, as a type of loan facility, is for full time employees of blue chip companies such as banks, telecoms, oil & gas. It is tailored towards meeting/bridging short-term financial gap. There is no limit to the amount obtainable, but repayment installment must not exceed 30% of the employee’s salary after all deductions has been made.

The borrower will issue cheques corresponding to repayment installment already agreed by the credit officer. The cheques must be issued from salary account of the employee. Whilst he/she would have provided pay slips, bank statement and copies of employment and confirmation letter respectively.

The credit officer may wish to obtain collateral so as to have a good fall back position in the event of the borrower losing his job.

Why Us?

  • Providing property purchase and construction opportunities for self use.
  • Providing a 10 to 25year micro-mortgage scheme for members.
  • Providing real estate and other investment opportunities for collective gain.
  • Providing investment (real estate inclusive), entrepreneurial and other life enhancing training to members at our monthly meetings.
  • Always providing well-researched and negotiated clusters of landed properties which members can buy; and also assisting in developing into mini-estates while providing other services as may be required, e.g. access to mortgage facilities below the market rate building materials, etc.
  • Providing opportunities for members to borrow for growth in their business
    operations through our well-structured and professionally managed thrift in association with participating Micro-Finance Banks. 20% of our fund at any time is made available for our thrift operation.
  • Investing our collective monthly contributions regularly and distributing
    30% of surplus (gain or profit) annually as dividend on a prorated basis.