This is a pre-approved loan that you access at your convenience.
This is also attached to your Access Plus Debit Card that can be utilized at any ATM or Point of sale Machines with the Multilink sign.
General Terms and conditions:
Each member’s credit limit is pre-set based on the following criteria: –
- Length (period) of active membership in the Credit Union.
- Members loan repayment record
- The proportion of the member’s income that comes to the Credit Union each month either as savings and/or loan repayment.
The income level of the member.
- Members will be able to get their line of credit along with the other loan(s) they already have or will in the future need.
- Equity of 10% is required on shares
- The maximum amount that any member can obtain is $150,000.00
How to qualifiy
- Be a member of the Portland Co-op Credit Union
- Save regularly for at least 4-6 months
- Be gainfully employed, earning enough to comfortably afford the loan repayment
Documents required for loans
- Valid identification (passport, drivers license, national ID)
- 2 passport size photograph certified by Justice of the Peace
- Letter of employment
- The last 3 pay slips