QUICK CASH LOAN REQUIREMENTS
Maximum Loan Amount: an $350,000.00
Repayment Period: 24 Months 2 Years
Equity: 10% of loan amount in share equity account
- Minimum 3 months membership
- Last pay slip
- Job Letter (For first time borrowers)
- Signed final payment letters (issued by the CU)
- If the member has an existing Unsecured Loan, a credit report will be generated. The CU may require statements from other financial institutions seen on the Credit Report that are not closed or removed from the Credit Report.
- If credit score is high-risk, a guarantor will be required. For the guarantor:
- Completed guarantor form
- Guarantor last pay slip
- Guarantor ID
- Guarantor job letter (for non-JDF members) a non-JDF members must be permanently employed.
- Guarantors as serving JDF members, ROD must be at minimum one year of the member.s ROD.
- Guarantors as serving JDF members, must be a rank higher than that of the member.
- JDF Members with less than one-year ROD and over 18 years of service will be required to sign a pension letter. This letter only takes effect whenever the member retires from JDF. The monthly loan repayment/obligation will be deducted from their pension otherwise a guarantor document is required.