Loans with Special Features are offered to members according to their needs. For Example: LinCu Loan: To access this loan, a member must have
(i) a LinCU Card and a share balance that exceeds
(ii) The ability to service the loan as evidenced by net
income and commitment to previous loan
Note that a member with $18,000.00 in shares can qualify for a LinClJ Loan of $6,000.00 which must be repaid in monthly installments of $300.00. However, a member may qualify for a LinCU Loan of up to $60,000.00 with shares of more than $18,000.00.
Education Loan: This loan is geared towards assisting teachers who have been approved by the Ministry of Education to proceed on no pay study leave. This is available to members who have been permanently employed for at least 2 years. Some features are:
The period of study must not exceed 24 months
The loan is granted, and no payment is required until successful completion of the programme of study.
After completion and resumption of teaching duties,
the member can restructure the loan with 90% of
the accrued interest being waived.