by Curlan Campbell
- Triple R Promise is a suite of benefits responding to membership feedback
- Ariza Advantage Account introduced to meet flexible yet high-yield options
- Ariza has increased interest rates across multiple products
In a major move reflecting its commitment to listening to members, Ariza Credit Union has unveiled its “Triple R Promise,” a suite of benefits designed in response to feedback from its membership base.
The initiative was launched at a press conference by Chief Executive Officer, Mervyn Lord, who emphasised that the enhancements, particularly in mortgage and savings products, were shaped by suggestions received directly from members.
“Our goal is not merely to maximise profit. Our focus is really maximising the quality of life of our members,” Lord said. He explained that Ariza’s latest offerings, including lower mortgage rates, increased deposit interest, and new savings products, are part of a deliberate effort to respond to what members have been asking for. “In 2024, based on our 2023 results, we give back more than $2 million to our members, over $1 million in dividends, over $1 million in interest,” he noted, highlighting the credit union’s ongoing tradition of sharing its success with members.
Central to the Triple R Promise is the reintroduction of the Switch Mortgage, which Lord said was tailored to meet members’ requests for more affordable home financing. “Interest as low as 3.99… Yes, interest as low as 3.99,” he repeated.
The mortgage product also offers up to 100% financing, reduced legal and loan processing fees, and flexible terms designed around members’ individual affordability. In addition, Ariza is expanding vehicle loan options to include up to 100% financing at a 5% interest rate, including the ability for members to switch recent loans to the new rate.
Lord stressed that the initiative extends beyond loans. In response to feedback on savings and retirement planning, Ariza has increased interest rates across multiple products. Secondary savings will now earn 2%, lifetime savings 3%, retirement savings 4.25%, one-year fixed deposits 2.5%, three-year fixed deposits 3%, and a new five-year fixed deposit 3.5%. Education savings, another area highlighted by members, has increased to 4%.
Adding to these offerings, the new Ariza Advantage Account — a long-term savings product — was introduced to meet requests for flexible yet high-yield options. Members can start with a minimum of $10,000, make continuous contributions over 5 years, earn 3.5% interest paid quarterly, and use the account to secure loans. The CEO explained that the product is aimed at attracting new funds to the credit union while rewarding members’ disciplined saving habits. “The focus on this account is for new monies to come into the credit union so that we can assist our members more.”
Additionally, Lord underscored that the Triple R Promise is as much about improving service as it is about product offerings. “The focus here today is not merely product enhancement. Very important to us is service enhancement,” he said, assuring members that Ariza will continue to prioritise care, responsiveness, and efficiency. “Your journey in Ariza is more than the product that you receive. It is also about the service,” he added, promising daily efforts to deliver an elevated member experience.
The launch of the Triple R Promise underscores Ariza Credit Union’s dedication to listening to its members and translating their feedback into tangible benefits, marking a new chapter in member-centred financial services.
