Home Equity

Home Equity loans will be made to members for home improvement, debt consolidation, education, medical expenses, business ventures, motor vehicle purchase, loan refinancing or other productive purposes. Applicants must own the property charged or the owner must pledge the property on behalf of the applicant. A qualifying share ratio of as low as 5% is required.  Loans will be granted up to a maximum of $6,000,000.00 or 90% of the value of the property or the existing equity on a property, whichever is less.

The maximum repayment period will be 15 years. Loan maturity will not extend beyond the statutory retirement age of 65 years.


  • The applicant’s life must be covered by the Mortgage Protection Insurance/Group Mortgage Protection Insurance provided by CUNA Mutual Insurance or any recognized insurance company providing a similar service acceptable to the Credit Union.
  • Such policy must be assigned to the Credit Union exclusively.
  • Successful applicants are required to insure their property through the Credit Union under Home Owners Comprehensive Scheme provided by Jamaica Co-operative Insurance Agency (JCIA) or any recognized/reputable insurance company acceptable by the Credit Union against all insurable losses. Conditions apply.