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.  
 
 

About Correctional Services Co-operative Credit Union

The Correctional Services Co-operative Credit Union Limited is an in-house financial facility, offering a variety of products and services in the form of savings and loans, exclusively to employees of the Department of Correctional Services, the Correctional Services Co-operative Credit Union Limited and their immediate family.

The “immediate family” consists of mother, father, marital spouse and biological and legally adopted children.

The Board of Directors governs the Credit Union. An elected Credit Committee scrutinizes and approves loans and the Supervisory Committee monitors controls and regulations as outlined by the Rules of the Society. The attending members at an Annual General Meeting go through the process of election of all committee members, who have to be members of the Credit Union in right standing.

Currently, we offer seven saving plans and twelve loans, all designed to suit our members’ specific goals and needs. We endeavour to make available other products as they develop constantly.

Scholarships are offered to at least five “Credit Unionettes” who are successful in the GSAT examinations annually. One scholarship is offered yearly to a members’ child who has been accepted for tertiary level education.

We are a community oriented Credit Union having adopted the Salvation Army Basic School located in Rae Town, Kingston, and Best Care Foundation (catering to physically and mentally challenged children) located on Trevennion Park Road, Kingston 5 (off Halfway Tree Road).

It is an honour and our humble pleasure to support these students and organizations over the years.

 
 
 
  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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