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Interest Rates Will Be Reduced Starting 1 April

  • Member Notices
18 Mar 2020
Interest Rates Will Be Reduced Starting 1 April

As of 18 March 2020, the CICSA Co-operative Credit Union Board of Directors has confirmed that it will reduce interest rates for Members starting 1 April 2020.

The 1% rate reduction will be applied automatically to all loans to Members in good standing effective 1 April 2020. The interest rate reduction does not apply to Express and Overdraft loans as they are already 4% below the current market rate. 

The Credit Union mission has always been about "Members Helping Members", so we expect this decision will provide some relief for Member that have begun to experience financial hardship resulting from the COVID-19/Coronavirus global crisis.