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THE BENEFITS |
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Hospitalisation Scheme |
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AUPE Co-op members who are hospitalised can claim a daily allowance under the Co-op's Hospitalisation Scheme. This daily allowance is offered to assist members to meet part of the hospital expenses. |
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Benefits under the Scheme |
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You will be given $20 for each day that you are hospitalised, regardless of the reason for your stay in hospital. |
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You can claim this sum up to a maximum of 365 days in a calendar year! This means that there is practically no limit on the number of days that you can claim for the daily allowance under the scheme. |
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Click here for Hospitalisation Benefits Claim Form |
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Study Grants |
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Study grants varying from $50 to $300 are offered to you to help meet your children's educational expenses. These are offered yearly, mostly based on financial need. |
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Types of Grants |
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Primary School |
$ 50 |
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Secondary School |
$100 |
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ITE/Pre-U/Junior College |
$150 |
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Polytechnic |
$200 |
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University |
$300 |
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Conditions |
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Members must have at least one year of membership and must not be in arrears in their subscription payment. |
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Members can submit one application per child per year. |
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In addition to the Co-op, the AUPE itself and the S&R Club also offer study grants. This enables more members to benefit from the awards. |
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Thrift Savings |
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You can save with the Co-op to maximise earnings on your "spare" funds. The Co-op has consistently been paying above-average interest rates on the three types of savings accounts that it offers. |
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TYPES OF SAVINGS |
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Subscription Savings |
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This is a compulsory saving. All members are required to maintain a Subscription Savings Account. You can save as little as $10 a month or as much as $50 if you want to earn more on your savings. |
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You can earn an annual dividend of up to 4%. If your saving is $1,000 you will get $40; if your saving is $10,000 you will get $400. |
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Fixed Deposits |
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You can also deposit a fixed sum of money with the Co-op for a fixed period of time. |
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A minimum deposit of $500 is required. |
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Interest paid on fixed deposits is usually higher than the market rate. |
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Saving Deposits |
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This is not compulsory but it helps to put aside some money for the rainy day. A savings deposit account can be opened with as little as $10 a month. |
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You can earn above market interest on your savings. |
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Interest is paid once a year based on balances on 31 December. |
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You can withdraw your savings when you need extra cash. |
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Easy Loans |
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The Co-op's main function is to make it possible and easy for its members to obtain financial assistance when the need arises. |
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Types of Loans |
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Prior Debt Loan |
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This is offered to help you clear existing debts at the time of becoming a member of the Co-op. You must therefore declare all existing debts when you are submitting your application for the prior debt loan. |
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Urgent Loan |
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You can apply for an urgent loan to help you meet unexpected expenses incurred as a result of death, accidents, hospitalisation, litigation, etc. The maximum amount you can borrow is 2 months salary. |
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Personal Loan |
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Under this scheme, you can borrow up to eight times your gross monthly salary or $30,000 whichever is lower. Two sureties or guarantors are required. Alternatively, you can take out a Loan Default Insurance Policy arranged by the Co-op. |
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Consumer Loan Scheme |
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You can obtain a Purchasing Loan of not more than six times your monthly gross salary or $10,000 whichever is the lower for your purchase of household appliances, electronic goods or furniture. Guarantors, who must be members of Co-op, are required. You can also take out a Loan Default Insurance Policy arranged by the Co-op. |
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100% Secured Loan |
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You can apply for a 100% per cent secured loan, using your total paid-up subscription as security. |
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APPLICATION |
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Loan applications must be made on prescribed forms, stating the type of loan and the purpose of loan. |
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LOAN INTEREST |
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Interest is currently chargeable at 6% per year. |
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