Loan Products & Services
Community First Co-operative Credit Union offers a wide range of affordable loan solutions to help members meet personal, property, education, vehicle, business and other financial needs.
Applicants must be members of the Credit Union and provide the general and product-specific documents listed below. Requirements, cash deposits and interest rates are subject to change.
LOANS PRODUCTS
As a co-operative we recognize the importance of providing affordable loans to our members for everyday uses. Community First Co-operative Credit Union (CFCCU) therefore provides a very extensive loan portfolio. This will better enable our members to get the financial assistance they need.
In order to access loans at CFCCU, you must be a member of the credit union. Each applicant must provide the loan officer with the documents outlined below.
Employed Person must submit
- Job letter
- Pay slip (two most recent)
- Social Security card
- Two valid Photo IDs (Passport + one other)
- Proof of Immigration Status
- Proof of Address within the last 6 months and in your name (Utility Bill / Bank Statement). If renting, a letter must be provided by your Landlord along with the actual bill. Your Voter ID can also be used.
- Guarantor (if required, should provide job letter, passport and one other valid photo ID, social security card, two recent payslips, and proof of address)
- Cash deposit (varies, dependent on the amount being borrowed)
Self Employed Person must submit
- Verification of Income (Affidavit of Means or financial audited statements)
- Business Licence
- Social Security card
- Two valid Photo IDs (Passport + one other)
- Proof of Immigration Status
- Proof of Address within the last 6 months and in your name (Utility Bill / Bank Statement). If renting, a letter must be provided by your Landlord along with the actual bill. Your Voter ID can also be used.
- Guarantor (if required, should provide job letter, passport and one other valid photo ID, social security card, two recent payslips, and proof of address)
- Cash Deposit (varies dependent on the amount being borrowed)
Below is a list of loan products currently offered at the credit union as well as a list of additional documentation needed to complete a loan application.
Mortgage Loans
- Types of Mortgage Loans
- 1) Property Purchase
- Minimum Cash Deposit of 5% – 10% (conditions apply)
- Copy of Sale Agreement
- Valuation of property (Valuators: Vier Dublin: 773-0197, John Bradshaw: 462-3627 / 786-9304)
- Copy of Land Register
- Life Insurance
- Property Insurance
- Insurance for house under construction
- Non-Nationals required alien land holders license
- 2) Construction
- Minimum Cash Deposit of 5% – 10% (conditions apply)
- DCA approved plans
- Valuation of land (Valuators: Vier Dublin: 773-0197, John Bradshaw: 462-3627)
- Typed detailed estimates (labour and material) signed by contractor/builder
- Permission to build on land if applicable
- Copy of Land Register
- Life Insurance
- Property Insurance
- Insurance for house under construction
Repairs and Renovation Loan
- Additional Documentation Required:
- DCA approved plans
- Valuation of land
- Detailed estimate – typed and signed by contractor/builder
- Copy of Land Register
Vehicle Purchase
Additional Documentation Required:
New Vehicle
- Drivers Licence
- 0% to 5% cash down payment
- Purchase Agreement for vehicle
- Insurance assignment/Letter
- Bill of Sale
Used or Reconditioned Vehicle
- Drivers Licence
- 15% to 50% cash down payment
- Registration of vehicle
- Purchase Agreement for vehicle
- Valuation of vehicle
- Overseas CIF Invoice from car company
- Insurance quote
- Bill of Sale
Valuators: Stenlie Matthew – 460-9870; Radford Peters – 723-7383 or 461-7367
Land loans
Additional Documentation Required:
- 5% to 10% cash down payment
- Valuation of land
- Letter from land vendor
- Copy of Land Register
- Non-Nationals require Land Holders Licence
- Property Insurance
Debt Consolidation Loans
Additional Documentation Required:
- Proof of debt from financial institution/company
Wedding
Additional Documentation Required:
- Copy of invitation
- Invoice for wedding expense
- List of expenses/cost
Vacation/Travel Loans
Required Documents:
- Invoice for ticket and/or ticket
- Itinerary from airline/cost
Education Loans
Additional Documentation Required:
- Acceptance Letter from an accredited institution
- List of costs associated with studying
- 15% to 25% cash down payment
- Valuation of property
- Copy of Land Register
- Life Insurance
- Property Insurance
Furniture And Appliances Loans
- Additional Documentation Required:
- Proforma invoice from vendor
Disaster Preparedness Loans
- Additional Documentation Required:
- Typed detailed estimates (labour and material) signed by contractor/builder
- Appraisal and Title of property
Business Loans
Additional Documentation Required:
- Business Licence
- Business Plan
- 10% to 50% cash down payment
SimpleTransparentSecure
Are you interested in being a member? Fill out one of our application forms today!
Revel Rush Carnival Loan
Requirements
- Job Letter
- Pay Slip (Two Most Recent)
- Social Security Card
- Passport
-
Proof of Address within the last 6 months in your name
(Utility Bill / Bank Statement)
NB: If renting, landlord letter + actual bill required. Voters ID also accepted. - Invoices (Mas Troupes, Service Providers, Ticketing for Events, etc.)
Revel
Rush
Carnival Loan
Because your carnival should be stress-free and flexible – just like our financing
Borrow up to $5,000 EC for Carnival!
Covers costumes, fetes, mas make-up, photoshoots, accommodations and more.
1 Year to Repay
No Appointment Necessary
Just drop your documents off at our Credit Centre.
