Personal/Character Loans

Personal/Character Loans

Loans are available to eligible members of the Society. A Personal/Character Loan can be given for any purpose and is based primarily on the character and integrity of the Member. The Member’s Shares are usually used as collateral. Maximum Loan limits will be established by the Board of Directors from time to time.

Personal/Character Loan Requirements:

  • Applicant must be a member of the Society for one (1) month (Personal Loans) or three (3) months (Character Loans)
  • Security/Collateral – unpledged Shares, Deposits, Special Shares, Co-maker
  • Interest on Personal/Character Loans – 1% on the reducing balance
  • Maximum repayment period – four (4) years
  • Ability to repay

Personal/Character Loan Criteria:

  • A valid form of Identification (National Identification Card, Driver’s Permit or Passport)
  • Recent Utility Bill – no older than 3 months
  • Evidence of income – Pay slip as per last paid OR recent Job Letter (addressed to Antilles Employees’ Credit Union and dated not older than 1 month)
  • Supporting documentation specific to the purpose of the loan may be required to complete the application
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