GREAT NEWS FROM ST. LUCIA TEACHERS' CREDIT CO-OP. LTD. AND VISION EXPRESS!

Get an INTEREST FREE loan from the St. Lucia Teachers' Credit Union for your NEW Glasses from Vision Express!

HOW DO YOU DO THIS?
  1. Get your eye's examined at ANY Vision Express Branch
  2. Call 453-2538 / 451-9146 to set your loan appointment
  3. Bring this Offer's Open Bill to the

St. Lucia Teachers' Credit Union.

29 Riverside Road, Castries

Applications

  1. An applicant for a Loan must be a member for three to six (3-6) months to qualify for a loan.
  2. Applicant must be 18 years or older.
  3. Interest is calculated monthly at the rate of 1% on the unpaid monthly balance (Reducing balance method)
  4. Character Loans:$2000 above share capital - no other security is required.  
  5. Applicant must have equity in the form of shares in the Society.

 

Points to Note

  • Interest rate is 1 % monthly on the reducing balance on loans above shares and 0.83% monthly on share-covered loans and mortgage loans. The Board reserves the right to change these rates from time to time without notification.
  • Members will not beallowed to withdraw from their shares if their share balance is below their loan balance.
  • Shares used to co-make are not withdrawable.
  • Members must continue to purchase shares whilst paying their loan - 10% of loan payment up to, $50.00 monthly.
  • Loans in excess of $50,000 must be insured.
  • Members needing waivers from the policy may write to the Board of Directors.

 

Applying for a loan

An appointment must be made in advance unless loan is fully secured by shares. At the interview, member should provide

  1. Picture ID
  2. For gov. workers: most recent pay slip; for non-gov. workers, a recent job letter.
  3. Supporting documents for purpose of loan, for example: Acceptance letters from school; Invoice for purchases; Letter of intent for land; Cost estimates for jobs.

Click here for Loans Application Form.

Click here for Loans Check-list.

Click here for information on Loan Collateral.

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