NATIONAL ASSOCIATION OF SAVINGS AND CREDIT UNION Company Profile, Contacts & Intelligence

NATIONAL ASSOCIATION OF SAVINGS AND CREDIT UNION Overview

NASCU, formerly known as the Credit Union & Savings Association of Zambia, was established in 1969 in Monze, Southern Province. The following year, we became a collective of credit unions, aiming to serve the urban population. In 1980, we expanded to the countryside, and from there, we've only expanded, becoming a national asset from which all can benefit. NASCU as an umbrella serves or credit unions in Zambia in many areas. Credit unions or Financial Cooperatives called by various names around the world are member-owned, not-for-profit financial cooperatives that provide savings, credit and other financial services to their members. Credit union membership is based on a common bond, a linkage shared by savers and borrowers who belong to a specific community, organization, religion or place of employment. Credit unions pool their members' savings deposits and shares to finance their own loan portfolios rather than rely on outside capital. Members benefit from higher returns on savings, lower rates on loans and fewer fees on average. NATIONAL ASSOCIATION OF SAVINGS & CREDIT UNION (NASCU) History NASCU, formerly known as the Credit Union & Savings Association of Zambia, was established in 1969 in Monze, Southern Province. The following year, we became a collective of credit unions, aiming to serve the urban population. In 1980, we expanded to the countryside, and from there, we've only expanded, becoming a national asset from which all can benefit.

Headquarters

Zm

Website

www.nascu.co.zm

Industry

Financial Services

Founded

1969

NAICS

Finance and Insurance, Monetary Authorities-Central Bank

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