Credit union marks 61 years, reduces loan rates

Scores of members of Broadcast and Allied Services Co-operative Credit Union Limited (BASCU) turned out for the staging of the 61st annual general meeting held at the RJR Sports Club on June 27. President Andrea Wilson-Messam, in her address to members, reported that BASCU continued to perform well in 2011 despite the challenging economic times.

The credit union ended the year with surplus at $6.1 million, that showed savings at $199 million and assets at $283 million. She encouraged members to take advantage of the reduction in BASCU's loan rates to market lows that were made during the year (ordinary loans at 15 per cent; mortgage loans at 9.95 per cent; and home improvement loans at 10.95 per cent).

BASCU's Summer Motor Vehicle Loan Sale, with rates as low as 12 per cent, was also launched at the meeting. It is evident that BASCU continues to strive to meet its members' financial needs by providing competitive financial products and services.