- Must be a member of the credit union.
- Must have unencumbered shares of $5,000.00 of the amount requested
- Maximum loan amount $100,000.00.
- Once a member applies for the maximum loan amount a top up cannot be applied for over the loan period.
- Maximum repayment time twelve (12) months.
- Service charge 5% of the amount requested.
- Interest rate is 1.625% per month on the reducing balance.
- Picture Identification.
- 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.
- Compulsory savings cannot be withdrawn until the loan is repaid.
- Loan repayment to be done via salary deduction & OR Standing Order if the company does not accept salary deduction.
- Job Letter (Everyone Except JDF Military Personnel)