BOPEU Educational Bursary Trust
In response to outcries by members that the schemes of services are not favourable to them, BOPEU has introduced a Bursary scheme for members to upgrade their qualifications to match the requisites set in the schemes of service. The sponsorship is in the form of a P10, 000.00 maximum loan with 1% monthly interest rate and payable over 2 years.
The primary focus of the BOPEU Educational Bursary Trust Fund is to improve the level of education within the Trade Union and to address the workers complaint relating to lack of progression. The sponsorship may however be extended to a member’s spouse or children provided the member qualifies for the loan facility. The sponsorship is offered to members with at least 2 years of membership.
Application Forms can be obtained from Branch/Regional Chairpersons or Secretaries or directly from the Finance Department at BOPEU Headquarters. Application forms can also be downloaded here.
BOPEU Group Funeral Scheme
Application for BOPEU membership automatically entails funeral cover for member and spouse as well as compulsory funeral cover for children at no additional cost. This has also been extended to the extended family members at an extra cost for each individual depending on their age category. The rates are very low and affordable to all members with high benefits.
BOPEU Loans Scheme
The purpose of the loan scheme is to provide short to medium term borrowing requirements to Bopeu members. The maximum loan amount is 10000.00 repayable in 24 months. The current interest competitive interest rate is 2% compounded monthly.
Airtime Contracts & Vouchers
This is a 24 months renewable contract by mobile operators to provide mobile products such as handset vouchers and laptops as well as internet and network services to BOPEU members subject to the terms and conditions outlined. The monthly fixed airtime amount entered into by members is deducted from the source under the BOPEU deduction code.
Merchandise sales to members
A wide range of quality souvenir such as t-shirts, track suits, sweaters, caps, water bottles and umbrellas among others is sold at reasonable prices to members and supporters of the union, for identity and image building. Provision for instalment settlement is made to enable easy payment terms for a maximum of 2 months.
For more information on all these services contact:
Babereki Investments (Pty) Ltd.
Plot 931, Extension 2, African Mall
P.O. Box 1708 AAD, Poso House
Tel:39 22 526
Fax: 318 16 49
Micro Loans Operations
The micro Loans department has a staff complement of 9. The scheme was set up as a revolving facility and continues to satisfy the needs of the members. As at the end of last financial year, the scheme was not only profitable but it was also liquid and solvent as demonstrated by the audited financial statements for the year ending 30 September 2014 provided.
The loan book stood at P25, 299,788 as at 30th September 2014 with 10,158 clients. Funding has been through internal and external sources and the Board has maintained a very conservative outlook. The result has been sustainable growth with potential to reach the 27,352 if capital permit.
Current Terms of the Loan
Designed as a revolving in-house micro lending scheme that is affordable to the members by its competitive interest rates. It offers:-
Competitive Interest rate.
Amount of Loan: Maximum - P10, 000.00
: Minimum - P 1,000.00
Maximum Repayment Period - 12 months
Upfront Admin Fees - P300.00 (maximum)
- P150.00 (minimum)
Credit Life Provision Cover - depends on amount taken (flat fee)
Easy budget control with fixed monthly payments.