LABORIE BRANCH

758-459-6900

VIEUX FORT BRANCH

758-459-6925

CASTRIES BRANCH

758-459-6939

MY ACCOUNT

LABORIE BRANCH

758-459-6900

VIEUX FORT BRANCH

758-459-6925

CASTRIES BRANCH

758-459-6939

Student Loans

We are a community oriented organization, committed to enhancing the quality of our members’ lives by implementing a variety of products and services that you our member can fully benefit from. One of these products and services which you might want to take full advantage of is our student loans. We welcome the opportunity to assist you in pursuing your highest educational goals, from your first diploma to your doctorate. Please keep in mind that you our member are our greatest concern therefore our repayment and interest rates are tailored with you in mind.

Requirements

Security

A cash security of 10% - 20% will be required.

Mortgage?

Mortgage on real property will be required with a maximum repayment period of 10 years.

Insurance

Life insurance and property insurance assigned to the Credit Union.

Loan Limits

Undergraduate and Post-Graduate

Architecture, Medicine & Law

$ 1 ,000

Engineering, Agricultural Science & Natural Sciences

$ 1 ,000

Humanities

$ 1 ,000

Diplomas & Associate Degrees

$ 1 ,000

If the applicant is the student then the member has the option of either

  • Repaying the loan during the period of study or;
  • Pay the loan interest only, during the period of study. Full loan repayment will start 90 days after the indicated duration of study.

Other Requirements

  • Letter from employer stating length of service
  • Salary slips (latest)
  • Required share deposit
  • If self-employed - evidence of income
  • Copy of Land Register (recent)
  • Evidence of stature of owner of property at Income Tax Dept.
  • Evidence of status of owner of property at NIC.
  • Appoint someone as Attorney (when necessary)
  • Property insurance assigned to the CreditUnion
  • Life insurance assigned to the CreditUnion
  • Funds for legal fees
  • Letter of acceptance from institution
  • Evidence of annual cost of tuition, boarding and lodging
  • Evidence of capacity to pay loan interest while studying
  • Certificate of independent legal advice from surety
  • Suitable co-maker

Disbursement

Funds will be disbursed on a yearly basis. After the initial disbursement, subsequent disbursements will be made upon proof of successful completion of all courses during the past academic year.

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Laborie Co-operative Credit Union

Laborie Co-operative Credit Union Ltd. is a financial co-operative established with the mandate to improve the quality of life and standard of living of its members for the entirety of their lives.

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