Hypothecation (Loans within Saving/Shares)

Members can access loans using funds held on savings accounts at any regulated financial institution as collateral. A hypothecation letter must first be issued noting JPS & Partners Co-operative Credit Union as lien holders for the life of the loan facility until discharged by the Credit Union. Applicants will be required to have a minimum share deposit of 10% of the loan amount. The maximum amount will depend directly on the total available savings balance.

Loans will be granted for a maximum of 10 years.  Conditions apply.

Loan within Savings

Applicants will be required to completely secure the loan amount with available funds on their special deposit account, fixed deposit account, share account or any combination.

The maximum loan amount will not exceed 90% of the funds on their investment/savings accounts listed. Loans will be granted for a maximum of 10 years.

Loans within Shares

Applicants will be required to completely secure the loan amount with available funds on their share account. The maximum loan amount will directly depend of the available share balance. Loans will be granted for a maximum of 10 years.

Conditions apply.