Debt Consolidation Loans

BENEFITS

Save Money

Interest rate of 11% per annum on the reducing balance for general debt consolidation, 12% per annum for hire purchase & credit card consolidation. (6.5% For home loans, 8.25% For a Vehicle with home, all calculated on reducing balance)
No loan processing fees
No hidden charges

Peace of Mind

One loan to repay at a lower interest rate

Flexible

Up to five (5) years to repay for ordinary consolidations
Repayment can be extended to 10 years to facilitate applications for a home or medical loan
Members with mortgages can qualify for 10+ years for consolidation of other debts

Safe

Up to $150,000 in loan protection coverage is offered at no cost to you

REQUIREMENTS

To apply call (255-2128) for an appointment with a Loans Officer or come in to our Loans Department and talk to our caring and helpful staff. Items needed:

A minimum of 5% of the total amount of the loan requested.
Statements, invoices and letters from creditors with the amount owed. Amounts in excess of $5000 owed to a single creditor should be notarized
Employed persons — most recent pay-slip or salary statement from your employer
Self-employed persons — recent financial statements of the business
Member Shares based on the amount of loan
Details of security being offered
Your NCCU passbook(s)
A valid photo identification (eg. Social Security card, passport)
Details of your liabilities and commitments (other loans, hire purchase, household expenses)
If the approved loan is $77,000 and upwards or you are 50 years and older, a medical examination by an approved medical doctor is necessary for loan protection insurance coverage
For larger consolidations (eg. Mortgage). Other supporting documents may be needed
Member Shares/Loans click here!

BENEFITS

Save Money

Peace of Mind

Flexible

Safe

REQUIREMENTS

Contact Us