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.  

For the working person running a busy schedule and tight on time and operating on a budget, there is a simple, yet very effective way of doing business with us here at the Correctional Services Co-operative Credit Union Limited. It takes less time and costs you less money both to save towards your goals and to repay your loans by just filling out a ‘salary deduction’ form.

This is sent to your payroll department which consents to send funds from your salary directly to the credit union at no extra cost to you. The funds are appropriated to the various accounts that you stipulate. This is made available to you where relevant, as soon as the account receives the funds.



  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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