miembresia KEP

Who are we?

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.

Statistics of 2016

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

History

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 Credit Union KEP provides professional, convenient, reliable and personal service based on the specific needs of our members. We will allocate our financial and human resources in the most efficient way to ensure that our organization remains a stable, sound, safe and solid one that is constantly developing and keeps on improving.
  • Our goal is to promote saving and provide members with an opportunity to invest in the credit union and take out loans on flexible conditions. In our eagerness to meet the needs of our members, KEP advocates, by means of continuous improvement, to stay one step ahead of developments in the financial sector and of our competitors. In addition, we emphasize educational aspects that stimulate and educate our members.

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.

Supervision of the Central Bank

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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