𝐋𝐨𝐚𝐧 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐂𝐨𝐦𝐩𝐮𝐭𝐚𝐭𝐢𝐨𝐧 𝐔𝐩𝐝𝐚𝐭𝐞

Dear Valued Member,

 

We would like to inform you of an update in how loan interest is computed.

Starting May 01 2026, the Cooperative will use the diminishing balance method. This means interest will be charged only on your remaining loan balance, not on the full loan amount.

 

What this means for you:

* Fairer interest charges

* Clearer and more transparent loan payments

* Compliance with CDA regulations

 

Under this new method, as your loan balance goes down, the interest you pay also goes down.

Interest rates remain approved by the Cooperative and will now be applied using this fairer method.

Loan repayments will follow a clear amortization schedule, which will be provided to you.

If you have any questions, our team is ready to assist you.

 

Thank you for your continued trust and support.

 

Cooperatively yours,