At AMGECU we offer a variety of short and long term credit facilities to meet our members financial goals. Up to two and half times the amount of Shares for members . Your Credit union Shares are usually held as collateral.
Our Interest Rate on Personal Loans are as follows:-
0.75 % per month Secured.
1% – 1.25 % per month Unsecured.
Interest rates for Personal Loans are on the reducing balance. All loans are subject to normal lending criteria:
- Proper documentation required:
- Recent Payslip
- Recent Job Letter addressed to AMGECU
- Two (2) Valid forms of ID ( issued by the Government of Trinidad and Tobago)
- Recent Utility Bill ( Land Line only if telephone bill is submitted ) or Bank Statement in the name of the member ( Not Older than 3 months ) if utility bill is not in the name of the member a letter of authorization would be required
- Two References (information for (1) family member and (1) close friend -name,proper home address, contact number(s),name of employer & job title)
- Evidence to support the purpose of the loan
- Must be a member in good standing
- Must be a member for 6 months if applying for a loan over shares.
Term Maximum for our Personal Loans is 7 years.APPLY