Te Credit Proposal
- 1. 1 PROPOSAL Financial Service Provider Té-Credit 82 HAMERKOP STREET MONTANA ESTATE PRETORIA 0017 Tel: Theo Boshoff +27 79 307 5810 Email: tboshoff@tecredit.co.za Tel: Cornél Labuschagne +27 82 576 9944 Email: clabuschagne@tecredit.co.za Fax: 086 552 8209 Office: info@tecredit.co.za
- 2. 2 Té-Credit would like to present you with a brief summary of our services available to your employees: 1. BACKGROUND Té‐Credit offers payroll deducted financial assistance to an employer’s workforce – a service that empowers employees to meet their financial needs. By providing this service, the employer demonstrates a compassion that ensures a content workforce and benefits his relationship with his employees. Té‐Credit has been in existence for the past nineteen years, of which our main focus for the first five years was short-term loans and a funeral scheme that we have offered with success to a variety of people and companies. For the past eight years we have extended our products extensively. We offer a wide range of products and services to all levels of employees, and give the employer the opportunity to outsource all financial services to Té‐Credit. We are currently offering our products on a fulltime basis to UNISA (Nationwide), NUTESA, MUNIMED in Centurion, IRCA in Johannesburg and all the branches of Northwest Transport Investments PTY (LTD) in the Northwest province, Atamelang Bus Services in Mafikeng, Bojanala Bus Services in Rustenburg, Thari Bus Services in Brits, SOS Security Té‐Credit is currently working in a close relationship with the unions SATAWU, TAWU and NUTESA, and therefore understand the needs of both the union’s executives and it’s members Té‐Credit is based in Pretoria and has a national infrastructure. 2. PRODUCTS 2.1 Short-term loans for unexpected expenditures Loans are easily accessible to all staff. A. Typical client • The typical client will be one who is an employee and is in need of immediate cash for unforeseen expenses and immediate cash flow. • The benefit for the member, using this product as an alternative, would be to avoid the formality of time consuming paperwork and
- 3. 3 administration associated with financial institutions for example Banks and insurance companies. B. Product features • The loan/advance product is an unsecured short-term loan that is granted subject to the approval of the application by the Financier. Furthermore there will be no credit checks when employees apply for this product. • The amount varies between R50 to R10 000 and is repayable within one (1) to twelve (12) months. • The approval time for a loan will be approximately 10 minutes. If approved, the loan amount will be paid out to the members the following day. C. Loan Repayments • It is required that the loan be repaid by means of a salary debit order only. This will be forwarded by Té‐Credit to the Employer. D. Administration • The following will be required: (i) An official pay slip of the previous month; (ii) South African Identity document; (iii) A “cession of money due or payable to the applicant member” form must be signed by the applicant’s member; (iv) Acknowledgement of debt; and (v) Salary debit order. • Distribution We would like to have offices on site to enable us an opportunity to provide immediate and effective service every day of the week from 08:00 to 14:00.
- 4. 4 In contrast with our opposition in the field of finance-marketing (with reference to the relevant marketing conditions), - using unskilled agents who only serve the clients in desperate need once a week -, Té‐Credit in return has a professional, personal, permanent branch manager who assist them on a daily basis, managing their financial responsibilities on a monthly basis. 2.2 Low Cost Housing This product allows the members to provide their families with housing. • No deposit required • One (1) to twenty four (24) months to pay (Lease for twenty four (24) months and the property is yours) • Cash option available • Lay Buy option available • No interest will be charged on this product 2.3 Furniture & Appliances Té‐Credit offers a very exclusive deal to our clients on buying furniture & appliances direct from us. • Our clients will be able to buy products like TV’s , Hi-Fi’s, fridges, stoves, furniture, Building materials and much more direct from Té‐Credit. • No deposits will be required. • Six to twelve months payback periods will be available.
- 5. 5 2.4 Vehicle finance Té‐Credit can offer you vehicle finance with excellent rates: • Assist with search for the “ideal” vehicle, • No penalty fees will be charged for early settlement; and • Annual bonus on interest. 2.5 Home finance Té‐Credit has a strong network that allows us to do the following: • Obtain financing for buying a home; • Searching for the “ideal” home; • Register 2nd and 3rd bonds on a house; • Negotiate lower interest rates on existing bonds; and • Rates as low as prime minus three percent (-3 %). 2.6 Legal fin This product has a two-fold purpose: A. Firstly we offer an all-inclusive legal assistance and advice of any nature. The service includes the following: • Signing of contracts (also supply contract); • Assist employee in civil and criminal cases; • A specialist in labour law can assist in labour law issues. B. Secondly, we offer a comprehensive financial service, free of charge, which includes the following:
- 6. 6 • Financial analysis and planning; • Short courses in financial analysis and personal financial planning; • Estate planning; • Wills; • Long-term insurance; • Best premiums on short-term insurance; • Tax consultant who can assist with tax returns; 2.7 Trust Relieve Fund With reverence to the above, Té‐Credit will support people in desperate need. Every case will be handled on its own merit. Terms and Conditions will apply. Note that details will be discussed with the participating unions/parties at a later stage 2.8 Family Funeral Scheme From as little as R55 we offer a comprehensive cover to an employee and his immediate family. Parents, in-laws and great grand parents can be added to the policy as your extended families. The more members in the scheme, the better premium can be negotiated. • The cover would be as follow: (i) Member R10 000 (ii) Spouse R10 000 (iii) Children over 11yrs R10 000 (iv) Children under 11 yrs R 5 000 (v) Children under 1 yr R 1 500
- 7. 7 • In an event of death an amount of R10 000 is payable within 48 hours upon receipt of all relevant documents. Assumptions: 1. Entry age: 65 maximum 2. Cover for life 3. The member undertakes to continue with the cover and contributions for at least two years. 4. All details of the family are required when applying. Additional benefits: 1. A limitation of six children is placed on the above cover. 2. Any unmarried child who is a full time student at a recognized educational institution of a public character will be covered up to the age of 25. Proof will be required. 3. Any unmarried child who is dependent on the member and is mentally handicapped or totally and permanently disabled will be covered. Proof will be required. Definitions: 1. Spouse shall mean the legal spouse of the member and shall include a party to a customary union according to customary law. 2. Child shall mean a child of the member and shall include a posthumous child, a stillborn, a dependent stepchild and an orphan adopted by the members. 2.9 Té‐Credit club card The latest product that we have launched is a club card that allows members to obtain discount at selected shops, restaurants, guesthouses and holiday resorts. We try to add new options to the list on a monthly basis, to allow members to have the benefits of the club card to the fullest.
- 8. 8 2.10 Té‐Credit bursary Té ‐ Credit is willing to offer a bursary for study purposes to an employee or his/her immediate family every year. 2.11 Cell phone Contracts & Accessories Té‐Credit also offers exclusive cell phone contracts to our clients. Note that even if a person is blacklisted Té ‐ Credit will still be able to assist him/her with a tailor made cell phone contract package. 3. OTHER SERVICES AND PRODUCTS We can also offer the following: • Arrangements for conferences (venue and accommodation). Please feel free to contact us if you require any additional information. 4. FUTURE PRODUCTS • Discounted flight tickets with Kulula.com • Discounted Car Hire • Discounted Movie Tickets • Laptops with 3G connection