Документ взят из кэша поисковой машины. Адрес оригинального документа : http://star.arm.ac.uk/~jgd/outgoing/Armagh_CU/WORD/Shares_to_Loans_Policy.doc Дата изменения: Fri Dec 18 12:10:29 2015 Дата индексирования: Sun Apr 10 11:48:34 2016 Кодировка: Поисковые слова: vallis

Shares-to Loans Policy






This policy was adopted by the Board of Directors of Armagh Credit Union
Limited






Signed:-

Position


Position




Date:











Overview



|Armagh Credit Union holds member's shares as security against loans |
|issued by the Credit Union. The Credit Union can transfer the member's|
|shares to cover arrears (including interest payments) at any point of |
|the loans default. The shares in the member's account at the point the|
|loan is approved cannot be withdrawn when the loan is greater than the|
|share balance without the prior approval of the Credit Committee. |
|Where the share balance is higher than the loan balance the member can|
|withdraw shares. In this circumstance the member can only withdraw |
|those shares in excess of the loan balance. |
| |
|During the loan period the member may save an amount to their share |
|account. |
| |
|All shares-to-loans transfer should be processed under a unique share |
|to loan transaction code (note that this cannot happen if the member |
|is in credit control). The computer system must be able to flag |
|frequent transfers which could mask a possible future delinquency |
|problem. |