Loan Policy

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Revised Loan Policy

We invite you to call any of the following loan officers for any clarification or further updates on our offerings:
Camille Cadogan 1-876-932-3509

Maximum Secured Loan Amount

We have also increased the maximum loan amount an individual can access from

$4 Million to $10 Million.

Motor Vehicle Loan Policy

Effective January 1, 2024, the following motor vehicle policy will apply:

Year of vehicle

%age Financing 

(lower of Market Value or purchase price)

Proposed 

Interest rate

Proposed  max term

2024-2023

(New – 1 year old)

100

7.5%

120 -108 months

2022-2021

(2-3 years old)

100

8.25%

96-84 months

 2020-2019

(4-5 years old)

100

8.50%

72-60 months

2018

(6 years old)

80

9.00%

48 months

2017 

(7 years old)

70

9.00%

36 months

2016   

(8 years old)

65

9.00%

24 months

2015   

(9 years old)

60

9.00%

18 months

2014   

(10 years old)

50

9.00%

12 months

 

Extended Repayment

Option 1

Where a  percentage of the loan is secured with savings, the term of the loan can be extended as follows:
- 10% to 30% : add maximum of 18 months
- Greater than 30% - 50% : add maximum of 24 months
- Greater than 50% - 80% : add maximum of 30 months
- Greater than 80% : add maximum of 36 months

 Please note that motor vehicles older than 10 years will not be accepted by the Credit Union as collateral and subject to above policy, the maximum repayment term on any vehicle shall be 120 months.

 

Option 2

Members can benefit from increased repayment periods of up to 12 months where there is no cash included in the collateral. The applicable interest rate will be 1% higher than current rate.


Customer Service

Our customer service agents are courteous and willing to assist you find the right product or service that you desire.

Savings

We have a wide range of savings options to suit your needs

Online Banking

Contact Us Today

We offer personalized and friendly customer service, prudent financial advice and a safe and competitive opportunity for loans, savings and investments