Conditions

The Mutual Association grants retired members two types of loans, the ordinary loan and the housing loan, as long as the granted amount and the interest to be paid until maturity are blocked as a guarantee in the CHF current and/or deposit account, or USD account.

• Interest rate and duration

The interest rates as well as the duration of the loans are the same as for active members.

• Minimum amount granted

The minimum amount that may be requested for a housing and an ordinary loan is CHF 5,000,

• Guarantee with the USD current account

If a member wishes to borrow against its USD current account, the counter value of the amount of the amount granted and interest to be paid until maturity does not exceed 65% of the blocked sum in USD.

• Monthly repayments

The monthly repayments can be made by wire transfer or by withdrawal from the CHF current or deposit account only,

Monthly repayments must be received by the last monthly working day of the month at the latest, failing which accrued interest will be charged. If the payment is not done on time the Mutual Association will deduct the instalments from the blocked sums.

• Death

In case of death, the Mutual Association will repay the capital due and interest from the member’s account(s).

Early loan repayment

Members who wish to repay their loan partially or totally in advance must send a request by email, fax or by mail to the Mutual Association for agreement,

A loan may be partially or totally reimbursed in advance, without fee, as long as a minimum of 6 instalments have been repaid. A partial reimbursement however, is allowed only once during the duration of the loan,

A partial or total repayment can be made only between the 1st and the 15th of each month. After having received the Mutual Association’s agreement, members must make sure that the funds are received within this period. If the funds are received after the 15th of the month, the loan repayment will be done the following month,

If the repayment(s)exceed(s) CHF 30 000, members will have to contact the Mutual Association to justify the source and traceability of the funds and send official evidence for prior approval. Upon receipt of the documents and if they clearly justify the source and traceability of funds and their traceability, the Mutual Association will give its permission for the deposit. If the source and traceability of the funds cannot be clearly established by the usual procedures, the Mutual Association reserves the right to request more information or refuse the funds.

If deposits are received without the proof of the source of the funds and the agreement of the Mutual Association, the funds will be automatically returned to the sender who will bear the costs incurred.