23 Feb Can I offset my deposits against my loan?
It is against credit policy to use member deposits for purposes of loan repayment. A member is only allowed to offset their deposits against his loans if he/she is ceasing to be a member. However, special consideration may allow use of member deposits for loan clearance under unique circumstances if it has been determined that the loan borrower has no capacity to pay up his/her loan(s). One must pay off the difference immediately (between the loan and savings) if any before submitting the offset request. In addition, any prior guarantees to other members must be replaced first.
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