It is the policy of the Western United Credit Union Co-operative Society Limited to grant loans for Prudent and Productive purposes to its members. A member is eligible to apply for a loan not exceeding twice (2) times his or her paid up share capital. The following loans reflected below are granted to our members at affordable rates of interest once they meet the lending criteria:
- Motor Vehicle LoansMortgage Loans
- House Repairs/ImprovementConsolidation of Debts
- Business Stocks and Equipment Education & Uniforms
- Home FurnishingVacation Loans
- Top-Up LoansCar Insurance and Repairs
Unlike your share saving which is a permanent contribution to your generational creation of wealth/legacy, your deposits account is a savings account that attracts a quarterly interest rate of 0.5% and can be withdrawn from as your financial needs arises. This deposit account can also be transferred to your share account whereby strengthening your possibility of assisting that much needed loan. It can also be used as that secret nest egg for family emergencies such as medical expenses, unexpected plumping repairs as so much more.
Flexible Deposit Accounts
Marital Investment Dream Account
The love that is shared between two (2) individuals would often lead to marriage, and preparing for a wedding can sometimes be a very expensive experience therefore why not save towards your marital experience without the hassle of sinking yourself into financial challenges. The Marital Investment Dream Account attracts an annual interest rate of 1% and can be transferred at any time to your share account increasing your ability to borrow twice times your share value. Marital Investment Dream Account is the account that helps you to mitigate financial hardships before and during your marital journey. This account can also be used as added in-house security against a loan application, or transferred to your share account whereby increasing your share capital and giving you the possibility of attaining that much needed loan once you meet all lending criteria.
Education Builder Account
The Co-operative Movement has always been and would continue to be very instrumental in the educational development of its people and the wider community. Therefore, as a Financial Co-operative with its focus on the achievement of holistic educational achievement we have decided to introduce our Education Builder Account where you our valued member can save to attaining your educational dreams and that of your children at an annual interest rate of 1% adding to your financial security. This account can also be used as added in-house security against a loan application, or transferred to your share account whereby increasing your share capital and giving you the prospect of attaining that much needed loan once you meet all lending criteria.
Christmas Investment Account
The true meaning of Christmas is to give of one’s self freely by being truly selfless and by bringing happiness and joy to others through the gift of giving. So, by saving all year round it can help by adding financial benefits to your Christmas shopping—purchasing of curtains, painting, grocery shopping, gift giving, or a quiet holiday retreat for the Christmas Season. The Christmas Investment Account attracts an annual interest rate of 1% adding to your financial security. This account can also be used as added in-house security against a loan application, or transferred to your share account whereby increasing your share capital and giving you the prospect of attaining that much needed loan once you meet all lending criteria.
Fixed Deposit Accounts
WESCU’s fixed deposit is a financial instrument that earns any investor (member) an annual return of 2% and gives the member additional financial security which can be used as added in-house security against a loan application giving you the prospect of attaining your dreams and aspirations once you meet all lending criteria.
Entrepreneurial Deposit Account
This account attracts a quarterly interest rate of 0.5% and acts as a business account for all our businessmen and women. Our entrepreneurs utilize the Entrepreneurial Deposit Account as it provides a safe and secure environment for their business investments. Frequent deposits of income provide each entrepreneur with the opportunity to showcase their business cashflow as well as an insight into the profitability of the business. This affords Credit Officers to properly assess declared income when the needs for credit facilities arise.
Life Savings & Loan Protection Insurance
Life Savings Insurance and Loan Protection Insurance coverage is guaranteed by CUNA Caribbean Insurance Society Limited and is provided by the Credit Union for its eligible members as an added incentive for them to save regularly towards generational creation of wealth with the zealous intention of leaving a legacy/heritage for their loved ones. The amount of Life Insurance benefit a member is entitled to is in proportion to the amount of savings the member has, and benefits are payable only upon death or if the member is seriously injured and unable to work again.
When you save your money can entitle you to Life Savings Insurance benefits up to a maximum of $40,000.00 and a loan protection maximum of $100,000.00 at no cost to our membership.