Services: Savings and Loans


SAVINGS:

Permanent Shares: Minimum of $100.00, with dividends approved by the membership at the Annual General Meeting.

Share Savings: Interest is calculated on a minimum monthly basis and is credited quarterly.

Deposits and Special Savings: Can be deposited or withdrawn on a daily basis (office hours). Interest is calculated on a minimum monthly basis and is credited quarterly.

Tuition Savings: Interest is calculated on a minimum monthly basis and is credited quarterly.

 


LOANS:

Loans: loans for provident and productive purposes are made to members. Sample categories are:
 

CATEGORY LOAN SHARES RATIO MAX. LOAN($)
Lines of Credit
Risk based
10,000.00
Education
Risk based

75,000.00

Medical
Risk based

75,000.00

Business
Risk based

75,000.00

Housing Assistance & Real Estate
Risk based
500,000.00
Household Furnishings
Risk based

15,000.00

Vehicle
6.5% of the original value of the loan in unencumbered savings
150,000.00
Cooperators General Insurance Premiums
Risk Based
10,000.00
Other Categories
Risk Based
Available on request
 

 


Please contact the office for more details on these services.


 

IMPORTANT INFORMATION - ONLINE TRANSFERS

Dear Member,
 
You can use your online banking facility to transfer funds and make payments to your Credit Union account using either Royal Bank (Barbados) Limited or Republic Bank (Barbados) Limited.
 
For further details, please contact the Credit Union at 417-4716.

 


U.W.I. (Cave Hill) Co-operative Credit Union Ltd
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