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If he repays with a ten per cent dividend, he qualifies for an expansion loan three times the initial amount, whether he takes it or not. He has created future credit. With every five percent increase in the dividend paid, the line of credit is extended by its original amount. This frees the borrower from proving his profitability and credit worthiness by invading his privacy. He can either repay the loan with dividends or he cannot.

In the event of some misfortune that precludes the repayment of the original loan, the person who defaults must supply an explanation to the elected credit union board. The board considers the reasons given and can authorize a new loan of an equal amount or simply extend the original loan for another year. Every default is considered on a case by case basis.
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