What do I need to qualify for a loan?

There are 5 basic requirements needed to access any loan at the credit union :

  1. You must be a member of the credit union, 18 years and older.
  2. You must present a valid national photo ID,  preferable your passport.
  3. You will also need to provide:a job letter/ business license, social security card, and proof of address.
  4. Proof of purchase/proforma invoice (documentation showing what your purpose is for borrowing money )
  5. Cash security. This ranges from 10% to 65% depending on what is being purchased.

Please click on this link for more information on loans.

How can I become a member?

  1. The first step towards becoming a member involves the purchase of permanent shares.
  2. What are permanent shares you may ask? These are long-term financial investment in the future of your cooperation, Community First.
  3. As a member you are required to purchase a minimum of 20 permanent shares at $5 each, totaling $100. However feel free to purchase more.
  4. Each share you purchase helps secure a future for your credit union
  5. Additional for every share you purchase you receive returns on your investment in terms of dividends which are deposited into your savings annually once the credit union obtains favourable returns.
  6. It is in your best interest and the interest of the credit union that you purchase more permanent shares.
  7. In addition to the one hundred dollars ($100) required for permanent shares, there is a twenty dollars ($20) entrance fee. Potential members are required to bring in two pieces of valid picture ID (passport and one other ID), a Job letter/work permit and proof of address (current utility bill, bank statement etc) in order to qualify for membership at Community First Co-operative Credit Union.
  8. Persons living abroad who wish to start an account are required to mail notarized copies of the documents listed and completed membership form.
  9. Once you have met all these requirements, you are a legal member and as such entitled to all services and products offered and any additional benefits of membership.