Fiscal year and scope of business

(1) The fiscal year of a credit union shall end on the thirty- first day of March in each year. 36 Credit Unions Act (2) The services and functions of a credit union shall include– (a) receiving deposits and instalment savings from members; (b) making loans to members; (c) providing custody business for members such as keeping securities, precious metals and important goods or documents; (d) mutual insurance business for members; (e) discounting of bills; (f) providing depository and related business with Government, private sector and public organizations; (g) supporting community development; (h) providing education and training to improve the socio- economic conditions of members; (i) providing services to its members by electronic means; (j) providing automatic teller machines for the use of its members; (k) providing checking accounts for its members; (l) introducing any other services that meets the needs of its members.