M.A.G.I.C. Loan
M.A.G.I.C. Loan (Money and Growth Income Combination) is a loan created to encourage Members to invest in savings whilst acquiring funds for other means. 50% of the loan proceeds must be invested in shares and a Fixed Deposit at Eastern Credit Union.
The Interest Rate on M.A.G.I.C. Loans is 1.75%. Payments must be made via salary deduction.