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.  
 
 



                                                                

Desktops, Laptops, Printers, and Scanners, are among the items that can be bought under this loan type.

Amount granted is determined on an individual basis; maximum repayment period 18 months

  • Interest rate to be discussed at time of loan
  • The computer will stand security for 90% of the value
  • Last 3 pay advices/certified proof of income required
  • Shares at least 20% of loan
  • Original Quotation/Receipt required
  • Service charge 1%
  • The invoice must be provided from computer company
  • The cheque will be made payable to the company whose name appears on the invoice. 

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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