Types of Loans

Fully Cash Secured

Loan within shares (ratification)

Why withdraw your funds when you can access a fast, convenient within shares loan at a competitive interest rate. So keep earning while you repay that loan.

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Loan secured by shares & savings (internal)

By using a combination of shares and deposits, members can access loans at extremely competitive rates. Funds used as security must be held at the Credit Union.

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Loans secured by shares and hypothecation of funds (approved financial institutions)

By using a combination of shares and deposits, members can access loans at extremely competitive rates. This is for funds held outside of the Credit Union.

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Motor Vehicle Loans

See it, want it; you can get it with our motor vehicle loan package. We finance motor vehicle from 0-10 years old at competitive interest rates.

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Real Estate

Central Mortgage Fund

pdfMortgage Application Package | Apply Online

Internal Funds

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Home Equity Loan

The equity in your home can help you achieve your dreams. Flexible terms and affordable interest rates are available.

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Alternative Energy Loan

This is a secured energy conservation loan of up to $2M, which allows you to protect the environment while reducing your energy consumption and utility bills in the process. .

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Loan to share ratio loan

In an effort to assist members, we offer loans on a ratio basis.

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Unsecured Loans

Back to School Loan

Let N.C.B. Employees Co-operative Credit Union Ltd. Take the hassle out of your child's or children's school expense with our unsecured Back-To-School Loan package. It is accessible immediately after joining the Credit Union and at very competitive interest rate.

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Educational Loan

N.C.B. Employees Co-operative Credit Union Limited is focus on furthering your education with our unsecured Education Loan package. Once you are a member of the Credit Union this facility is immediately accessible and at very competitive interest rate.

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Pay Day Loan

Has an unexpected expense arisen? You can meet that expense by accessing a Pay Day Loan from your Credit Union. Member can borrow up to 1/3 of their net salary to a maximum of $75,000.

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Special Unsecured Loan

An emergency has arisen? Need to borrow money? Your Credit Union is here to assist.

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Pensioners Unsecured Loan

Pensioners can receive an unsecured loan from N.C.B. Employees Co-operative Credit Union Limited.

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Credit Card Loan

Government of Jamaica/European Union (GOJ/EU) Loan

Compulsory savings to shares when a loan is granted

All loans attracted a compulsory savings of $3,000.00 monthly.

Exceptions:

  • Pay Day Loans - $1,500.00 monthly
  • Pensioners unsecured - 5% of loan amount divided by 12 or a minimum of $3,000.00 monthly.
  • Back to Schools - $2,500 monthly to share $500.00 monthly for each child