A member is eligible for a loan once they have met the requirement. Members may borrow up to 10 times their Shares depending on the loan types. Interest rates on loans are very competitive and vary according to the share ratio. All interest rates are calculated monthly on the reducing balance. Once you are borrowing more than you have saved, collateral (security) may be required for the loan.  
 
 



Loan ceiling $60,000.00

  • Maximum repayment period 18 months
  • Interest rate to be discussed at time of loan
  • Transportation cost not included, however special consideration will be given for overseas vacation
  • Cheque will be paid to the Hotel or Villa for accommodation
  • Shares must be at least $20,000.00; security up to 50% of total loan is required
  • Last 3 pay advices/certified proof of income
  • Out of pocket expenses may be approved based on needs.
  • Service charge of 1% of loan granted
  • Not an add-on loan

Other conditions may apply

 
 
 
  Funding for this web site was provided by the Private Sector Development Programme (PSDP), a joint initiative of the Government of Jamaica and the European Union. The views expressed on this web site are those of the Correctional Services Co-operative Credit Union and do not necessarily reflect those of the PSDP  
 
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