Shares are valued at five dollars $5 each and may be purchased through weekly, fortnightly or monthly installments. Each share represents permanent savings which is annually improved in the form of dividends.
This is a regular saving account which allows members to withdraw funds quickly and easily.
This account is designed specifically to meet the needs of the investment-minded member. We offer competitive rates of interest on funds held from a minimum of three (3) months to a maximum of one (1) year. With as little as five hundred $500, you can open a fixed deposit account offering attractive interest rates. Members have the option of rolling over funds at maturity. A penalty of 1.5% applies for encashment before maturity date.
U.W.I. Credit Union offer loans for any worthwhile purpose: home improvement, purchase of a new/used vehicle, vacation, travel, education, medical or ceremonial expense, small business, mortgage and investment. We offer fast processing and approvals with no hidden charges. Loan protection is provided up to a maximum of $100,000 at no extra cost. Interest rates start as low as 0.75% per month and is calculated on the reducing balance.
Easy Loan Application
Answer all questions on the loan application form and attach copies of a recent job letter, pay slip and all supporting documents (invoices, quotations or estimates etc.) these documents must be provided for all loans over $10,000
Loans up to $100,000 can be approved by the authorized U.W.I. Credit Union personnel, however, loans over $30,000 must be considered by the Credit Committee.
Short Term Loans (STL)
Up to $5,000 can be granted to eligible members within minutes. For STLs of $400 and under a $20 service charge is incurred and the loan should be repaid within two (2) months. STLs attract a service charge of 15% to 18% to be repaid via salary deductions in four (4) to eleven (11) months as seen in the schedule below. Late payment fees apply.
|STL Prin. ($)||Fee||Total STL||Mths. to repay||Install||Rate|
|$ 100.00||to||$ 400.00||$ 20.00||$ 420.00||4||$105.00||5.00%|
The Family Indemnity Plan (FIP)
The Family Indemnity Plan is offered to provide financial assistance at a time when you and your family may need it most. A maximum of six persons per family can be covered. They include you, your spouse or significant other, children up to age 25, parents and parents in law up to the age of 76.
Premiums are as low as $52.80 per month. Benefits range from $10,000 to $65,000. No medical examination is required and claims are paid within two (2) working days. Contact us for more information.
One (1) Community Bursary valued up to $5,000. The Jerris Attz Bursary.
This Bursary is awarded to a student pursuing studies at the University of the West Indies and is based on academic excellence and financial need.
Four (4) Membership Bursaries valued up to $5,000 each:-
- Brenda Fraser Bursary
- Vibert Medford Bursary
- Claude Mc Eachrane Bursary
- Jill Thompson Bursary
These Bursaries are awarded each year to four members who are pursuing tertiary level courses, as may be approved by the Credit Union, and are based on academic excellence and financial need.
U.W.I. Credit Union Co-operative Society Limited (UWICU) currently offers the following grants to our members:
- The Secondary Entrance Assessment (SEA) Grant
- The Continuing Education (CE) Grant
- The Caribbean Secondary Examination Certificate (CSEC) Grant
- The Caribbean Advanced Proficiency Examination (CAPE) Grant
Applicants for grants must satisfy all of the following criteria:
- be a bona fide member of UWICU, for at least six (6) months prior to the date of his/ her application
- have contributed towards his/her shares for a continuous period of at least six (6) months prior to the date of application
- be in good financial standing at the date of application, therefore he/she shall not be in arrears and/or default of any financial obligation towards UWICU
Applications will not be considered if:
- submitted after the specified deadline
- the application form is incomplete
- the application form is submitted to the Office without the supporting official result/ grade slip, term reports for CE only
Payment of these grants to the applicant’s target account are subject to all budgetary allocations being in place, and the parent of the applicant being compliant.
|GRANT||ELIGIBILITY||QUANTITY||SUBMISSION DEADLINE||DOWNLOAD, PRINT AND COMPLETE APPLICATION FORM|
|SEA||Successful placement in secondary school or college based on SEA examination||$500||July 13th||SEA GRANT APPLICATION FORM|
|CE||Attaining an overall average of 65% and over at the end of each academic year from Form 1 to 4.||$500 at the end of each academic year||July 13th||CE GRANT APPLICATION FORM|
|CSEC||Grade 1 or 2 in at least five (5) CSEC courses||$750||September 15th||CSEC GRANT APPLICATION FORM|
|CAPE||Must attain grades 1 or 2 in at least two (2) subjects (excluding Caribbean Studies and Communication Studies) at the end of Year Two||$1500 at the end of Year Two||September 15th||CAPE GRANT APPLICATION FORM|
Awards for Excellence
If you have excelled in the following arenas scholastic, sport or cultural activities, nationally or internationally, and you are an active member, this award is for you.