NEHAWU SACCO Debt Consolidation Loans

PRODUCTS

JOIN NEHAWU SACCO

Name*

Surname*

Date Of Birth*

I.D. Number*

Home Address*

Work Department*

Position*

Home Tel*

Work Tel*

Cell Number*

Employee Number

Email*

MEMBERSHIP DECLARATION

As a member of NEHAWU SACCO, I undertake to support the principles of the SACCO, the spirit of co-operation and democracy, abide by credit rules and save and repay loans regularly.

Please deduct R50 Joining Fee and R300 for shares on*

Regular Savings

Regular savings Amount

Date to Deduct

Christmas Savings

Christmas Savings Amount

Date to Deduct

Education/Fixed Savings

Education/Fixed Savings Amount

Date to Deduct

Group Savings

Group Savings Amount

Date to Deduct

Province*

Region*

NEHAWU SACCO BANK DETAILS
NEHAWU SACCO, ACC NO: 000183806, BRANCH CODE: 000205, BRANCH: Johannesburg, STANDARD BANK

LOAN POLICY*

LOAN POLICY

Our loan policy has been revised and approved by the board of directors on the 17 March 2017. As of the 17 March the policy on new loans to savings ratio applies as follows, 1:2, the previous ratio was 1:3. 

 What does this mean?

This means that your savings balance, will be multiplied by 2, not by 3 as it was the case before, which will give you the loan amount you may apply for example if you have R1000 you may apply for a loan of up to R2000 only.

LOAN PROCESS

- Fill in the correct Loan Application Form
- Send loan form to Itumeleng@nehawu.org.za cc patiswa@nehawu.org.za
- Upon receipt the Loans Officer will acknowledge receipt by e-mail, telephone or sms
-	Application forms will be taken to the Credit Committee for assessment. The Credit Committee meets twice a week, on Tuesdays and Thursdays where assessment for approvals are made.
- Upon approval of loan the Officer will inform the member of the decision taken by the Committee.
- Payment is then made
- If loan has been rejected, the officer will also call member to explain the reason for decline as well as give advice as well.

REMEMBER!!!!

An affordability calculation is done for all loan applications. This means that your Income and Expenditure is assessed to see if you are able to pay the NEHAWU SACCO loan. A member’s expenses include what reflects on both your bank statement as well as the information filled in on the monthly income and expenditure form. It is important to be truthful when filling in that form.






REQUIRED DOCUMENTS

The following documents should be sent when applying for a loan. Please note that we have new loan application forms which have the new logo on. All members should make use of the new forms.
- Loan Application form
- Recent Pay slip (government printout also accepted)
- 3 months bank statement (this must have 3 salary drops reflecting)
- Proof of Residence( we are FICA complaint, no bank statement should be used as proof of residence , we do accept retail statements, insurance statements, water bill, cellphone or medical aid statements, letter from the municipality. Should a memenber not have such documents, they can go to the police station and get an avidavit) 

It is also important to ensure that all applications are signed and filled in correctly, and that all supporting documents are clear and correct to avoid delays in loan processing.

I agree

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