Low-Interest Rate
per annum
Loan Ceiling
up to $ 60,000
Loan Term
up to 6 months
Qualifications
- Member must produce last two (2) months pay advices/ certified proof of income; Government Identification and TRN; any utility bill.
- Member must be in good standing with the Credit Union, that is, no delinquency within the last six (6) months; and saving continuously for at least six (6) months.
Conditions
- Amount of loan granted will be dependent on the member's ability to repay.
- Repayment is by salary deduction.
- All waivers are considered by the Board of Directors. Waiver fees will be administered based on approved fee schedule.
- Commitment Fee of 10%
- 10% Free Shares required
