“The Ultimate Feters’ Fund where you Pump Now and Pay Later!“
A special consumer loan designed to provide financing for all your Carnival expenses.
Product Design
- Loan Range: $3000 – $10000
- Interest Rate: 12% reducing balance
- Repayment Period: 36 months
- Fees: $100.00 (deducted from proceeds)
- Direct Deduction
- Share requirement: $100.00 for up to $5,000; $150.00 for amounts more than $5,000
- Loan Type is revolving, with top-ups available
QUALIFYING CRITERIA
Salaried workers
- Employment of 2 years or more with a REPUTABLE COMPANY in a PERMANENT POSITION that provides consistent direct deductions.
- Direct Deduction- Companies must have an existing deduction history
Self Employed Workers
- Special considerations may be given to self-employed members.
- They must have no less than one years’ consistent history with KCCU.
- Income must be supported and verified
- Maximum loan- $5,000.00
Other documentation required
- Membership
- Employment: 2 years or more
- Direct Deduction
- Documents: Job letter, pay slip
- Details of request: Invoices