Iemas members receive R 109,4 million in member rewards

Johan Nel, CEO of Iemas Financial Services

As the largest financial co-operative in South Africa, Iemas Financial Services is owned by its members and operates for the benefit of the members utilising its products and services.

“Iemas offers a wide range of comprehensive and affordable financial products and solutions; this includes vehicle finance, a number of loan options, a purchase card and comprehensive insurance solutions available through Iemas Insurance Brokers, a wholly owned subsidiary of Iemas Financial Services” says Johan Nel, CEO of Iemas Financial Services.

The co-operative has agreements with over 600 employers nationwide, which include several large listed companies. These contractual agreements allow for employees to utilise Iemas’ products and services and by doing so, become members of the co-operative. “Once an employee becomes a member of Iemas they have the opportunity to start sharing in our profits via the annual member rewards. Each member’s reward allocation depends on their qualifying turnover with the co-operative throughout the year and is allocated during November” says Nel.

Nel continues “2018 was a tough year for businesses as well as for individuals. Thus we are proud to announce that we are able to share our profits with our members and allocate R 109,4 million in member rewards this year”.

In addition to the member rewards and many product benefits, Iemas also offers free financial wellness workshops at its participating employer groups. This year 7 028 employees from contracted employers nationally, benefited from these workshops. The financial wellness workshops focus on practical financial tips and advice to equip employees with the knowledge to manage their finances responsibly. Training modules include: how to budget; effective savings tips; escaping the debt spiral and the importance of having a will and a life file.

“We look forward to a prosperous 2019, whereby our members will benefit even more from our products and services, the member rewards and financial wellness workshops. We will continue to live up to our value proposition of being a caring partner in financial services” concludes Nel.