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CICSA Co-operative Credit Union Limited

Call Us

+1 345-949-8415

Available Products

Loans (Various Types)

There are two types of Loans.  Within shares and out of shares.

Within Share Loans
  • Shares are used as collateral.
  • Loan is granted immediately.
  • Savings in the form of shares are maintained rather than depleted.
  • Within shares loans can be more cost effective than actually withdrawing the funds from shares, and is strongly recommended.
Out-of-Share Loans
  • Requires collateral to fully secure the loan.
  • Current employment letter and most recent pay slip.
  • Approval granted by a member-elected Credit Committee.
  • Interest rate does not exceed 1% per month on the remaining balance.
  • A minimum percentage of payback may be required between borrowings.
  • Terms available up to a maximum of 15 years (qualifying conditions apply).
  • Competitive interest rates with interest calculated on the reducing balance.
  • Convenient repayment through payroll deduction.
  • Members are entitled to borrow up to a maximum of 10 times their share balance.
  • Property, vehicles, co-makers, securities (stocks, shares) and life insurance with a cash surrender value are acceptable forms of collateral.

**Other terms and conditions apply**