KEP is a solvent organization with solid results and sufficient liquidity to meet the demands of its members. The savings of our members are primarily invested in loans to other members. The remainder is invested in bonds and funds at very low risks. By way of precaution, we insure our loans in order to protect our members.
| Shares of Members | ƒ 19.300.000 |
| Investments of members | ƒ 2.600.000 |
| Deposits of members | ƒ 3.400.000 |
| Surplus 2016 | ƒ 300.000 |
| Total Loans | ƒ 13.900.000 |
| Total Assets | ƒ 28.200.000 |
KEP Credit Union KEP (KEP Cooperative) has been giving excellent service for over fifty years. Founded in 1966, KEP admitted only employees of the Refinery and/or of companies affiliated with the Refinery.
Its unique and convenient line of services is what principally made KEP grow continually during the years, developing into a formal and established Credit Union with more than 2900 affiliated members and more than ƒ 28 million in assets. KEP’s staff also developed simultaneously and today capable professionals ensure that KEP is managed with vision and that its members receive the quality of service they expect. In the years 2000 and 2005 the articles of incorporation were adapted, making it possible for local enterprises to affiliate with a minimum of 5 members. Now both the company and its employees, and their spouses and children of the age of majority can enjoy the benefits of KEP. The number of affiliated members that believe firmly, and put their trust, in KEP’s power and benefits is still growing.
For 50 years, KEP Credit Union has been providing its members with a wide assortment of quality services. The strength behind this service is our firm belief in our mission, which says:
KEP is a solvent organization with solid results and sufficient liquidity to meet the demands of its members. The savings of our members are primarily invested in loans to other members. The remainder is invested in bonds and funds at very low risks. By way of precaution, we insure our loans in order to protect our members.
The latest development regarding the Credit Union, and probably the most important of the 20th century, is the change in the law ‘Landsverordening toezicht bank- en kredietwezen’, i.e. the National Ordinance regarding supervision of the bank and credit system. Starting 1994, this law stipulates that all Credit Unions should have a permit to operate and, consequently, come under the supervision of the Central Bank. In the year 2005, KEP got a very good rating during the audit that took place.
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