Terms of Service

1. Agreement to Terms

By accessing our website or becoming a member of Golden Co-operative Credit Union ("Golden CCU"), you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use our services.

2. Membership

2.1 Eligibility

To become a member of Golden CCU, you must:

• Be at least 18 years of age
• Be a resident of Mauritius
• Provide valid identification documents
• Pay the required entrance fee and minimum savings deposit
• Agree to abide by our bylaws and cooperative principles

2.2 Membership Rights

As a member, you have the right to:

• Vote at Annual General Meetings (one member, one vote)
• Stand for election to the Board of Directors
• Access loans and savings services
• Receive annual dividends (when declared)

2.3 Membership Obligations

Members are required to:

• Maintain accurate and up-to-date personal information
• Repay loans according to agreed terms
• Act honestly and in good faith with the credit union
• Not engage in fraudulent or illegal activities

3. Loan Services

3.1 Loan Applications

All loan applications are subject to approval based on our lending criteria. We reserve the right to approve or decline any application without providing detailed reasons.

3.2 Interest Rates

Our current loan interest rate is 6% flat rate per annum. Interest rates are subject to change with prior notice. Existing loan agreements will not be affected by rate changes.

3.3 Repayment

Loan repayments must be made according to the agreed schedule. Failure to make timely payments may result in:

• Late payment reminders
• Impact on future loan eligibility
• Legal action for recovery (as a last resort)

3.4 Early Repayment

Members may repay loans early without penalty. Early repayment reduces the total interest payable.

4. Savings Services

4.1 Regular Savings

Regular savings accounts earn interest as per our current rates. Interest is calculated and credited monthly.

4.2 Fixed Deposits

Fixed deposits earn higher interest rates based on the term selected. Early withdrawal may result in reduced interest or penalties.

4.3 Withdrawals

Withdrawals from regular savings are subject to available balance and may require prior notice for large amounts. Fixed deposits cannot be partially withdrawn.

5. Website Use

5.1 Acceptable Use

You agree to use our website only for lawful purposes and in a manner that does not infringe the rights of others or restrict their use of the website.

5.2 Account Security

You are responsible for maintaining the confidentiality of your member portal login credentials. Notify us immediately of any unauthorized access to your account.

5.3 Accuracy of Information

While we strive to provide accurate information on our website, we do not guarantee that all information is complete, accurate, or current. Always contact us to confirm current rates and terms.

6. Limitation of Liability

To the fullest extent permitted by law, Golden CCU shall not be liable for:

• Any indirect, incidental, or consequential damages
• Loss of data or profits
• Service interruptions or website downtime
• Errors in calculations or information provided online

7. Intellectual Property

All content on our website, including text, graphics, logos, and software, is the property of Golden CCU or its licensors and is protected by copyright and other intellectual property laws.

8. Termination

We may terminate or suspend your membership if you:

• Breach these Terms of Service
• Engage in fraudulent or dishonest conduct
• Fail to meet your financial obligations
• Violate our bylaws or cooperative principles

Members may voluntarily withdraw by settling all outstanding obligations and submitting a written request.

9. Dispute Resolution

Any disputes arising from your membership or use of our services shall be resolved through:

• Initial discussion with our management
• Mediation if direct resolution fails
• Arbitration or court proceedings as a last resort

Disputes shall be governed by the laws of the Republic of Mauritius.

10. Changes to Terms

We may modify these Terms of Service at any time. Significant changes will be communicated to members via email or notice on our website. Continued use of our services after changes constitutes acceptance of the modified terms.

11. Governing Law

These Terms of Service are governed by and construed in accordance with the laws of the Republic of Mauritius, without regard to its conflict of law provisions.

12. Contact Information

For questions about these Terms of Service, please contact us:

• Email: info@golden-ccu.com
• Phone: +230 5798 7127
• Address: Royal Road, Cluny, Mauritius