• Must be a member of the credit union.

• Must have unencumbered shares of 5% of the amount requested.

• Maximum loan amount $3,000,000.00.

• Pro-forma invoice for item to be purchased from a reputable Supplier MUST BE SIGNED & STAMPED

• Debt to income ratio must not exceed 60%.

• Compulsory savings cannot be withdrawn until the loan is repaid.

• Loan repayment to be done via salary deduction & OR Standing Order if company does not accept salary deduction.

• Service charge 2 (Secured)-3.5 (Unsecured)% of the amount requested.

• Interest rate 1(Secured) -1.25 (Unsecured)% per month on the reducing balance.

• Credit Report MUST be done.

• Members must sign a final payment letter. If a member previously had a final payment letter, we do not need to do another.

• Last 2 salary slips.

• Maximum repayment time 24 months.

• Guarantor agreement is required for members if they fall into these categories – ROD less than eighteen (18) months, HIGH credit report, Contracted employees,

• Picture Identification.

• Secured Loan Amount- $3M; Unsecured Loan Amount $2.5M

• New & High-Risk Members will attract a higher interest rate – 18% Unsecured & 14% Secured

• Equity for High-Risk members will be 10% and compulsory savings will range between $6,000-8,000.00