Fully Secured Loans
Borrow within your Shares at our reduced interest Rate of 0.75% on the reducing balance.
-
Maximum Earning Potential- Shares Earn Dividends! When you withdraw, you limit the amount of interest that can be paid to you for that year.
-
Life Savings Benefits- Your shares are protected in the event you pass away. Leave a Legacy for the ones you love
-
Same Day Access to your funds - Avoid the wait for a withdrawal. Receive your loan proceeds the day you apply- within one business day.
-
Make your Money Work for You- Your shares are the main form of Security in the Credit Union. Borrow for any purpose and enjoy flexible repayment terms.
-
A member of the Credit Union
-
18 Years Old
-
Employed/ Produce evidence of Income
- Details
- Category: Loans
- Hits: 48
· Promotional period October 26th, 2026, and
· end on December 30th, 2026.
Winners will be announced via social media pages on Friday 8th January 2027
Prizes
· A shopping spree valued at TTD$3000
· A 43-Inch Smart TV valued at TTD$2600
· A Staycation at the Hyatt including breakfast $1500
Terms, conditions and Criteria to Qualify
· Member for One Year
· Consistent savings pattern
· Good credit rating on ALL existing Facilities- There should be NO missed payments six (6) months prior to application
· Recent Pay slip submitted with application – Casual Employees must have worked no less than forty (40) weeks for the year.
· Upfront Payment of Service Charge of 15% of Amount Financed and 10% for Retirees aged 65 years and over. May also be deducted from Loan Proceeds for qualifying members
· Maximum Repayment
o $4000, 6000, 8000- Up to ten months to repay
o 10K, 12K- up to 12 months to repay
loan is subject to Normal Lending Criteria.
Amounts Financed and Repayment Options
|
Loan Amount |
Monthly Repayment |
Weekly Repayment |
Max Term |
Service Charge 12% |
Retiree Service Charge 10 % |
|
$4,000.00 |
$ 445.00 |
$ 112.00 |
10 mths |
$ 480.00 |
$ 400.00 |
|
$5,000.00 |
$ 500.00 |
$ 125.00 |
10 mths |
$ 600.00 |
$ 500.00 |
|
$6,000.00 |
$ 600.00 |
$ 150.00 |
10 mths |
$ 720.00 |
$ 600.00 |
|
$8,000.00 |
$ 667.00 |
$ 167.00 |
12 mths |
$ 960.00 |
$ 800.00 |
|
$10,000.00 |
$ 835.00 |
$ 210.00 |
12 mths |
$ 1,200.00 |
$ 1,000.00 |
|
$12,000.00 |
$ 1,000.00 |
$ 250.00 |
12 mths |
$ 1,440.00 |
$ 1,200.00 |
Dividend Loan
Members, pay yourself first you’ve earned it! With our Dividend Loan Promotion, you can access up to three (3) times your dividends received for 2023; to a maximum of $150,000.
Maintain dividends on your Share Account and be rewarded with a multiple of the amount earned.
Contact us for more information or click the link below to schedule an appointment for your Dividend Loan today!
Offer available for a limited time only. The promotion ends Friday 8th November 2024.
Head Start Loan
What is the TCU Head Start Loan
This loan is designed to assist all NEW Tranquillity Credit Union (TCU) members with a start on their financial journeys. Whether you have an existing need (be it travel, education, small business goals) or would like to start building and establishing your credit and savings pattern; this is the loan for you!
The maximum amount financed is Thirty Thousand dollars (TTD$30,000), of which Ten Thousand (TTD$10,000) will be placed on your share account as collateral and the other Twenty Thousand TTD $20,000 will be disbursed to you, the member for any purpose!
Disbursement Guidelines
A minimum of $5000 will transferred to your NEW TCU Visa Debit Card, which can be used at the point of sale and the balance of funds may be disbursed via:
- Cash
- Premium Deposit Account where you may use the E-banking platform to facilitate third-party transfers, bill payments or further card deposits.
Cash On D Go
The maximum line credit loan which you MAY obtain is $25,000 as – $1250 monthly
Conditions to qualify for a line of credit:
- Member is a consistent saver with the Credit union
- Membership with the Credit Union exceeds six (6) months
- Member’s Debt Servicing Ratio must be less than 35%
- Member must provide job letter and pay slip
The Credit Union will base monthly payments as described below, on the new balance after the latest advance:
| BALANCES | MONTHLY REPAYMENTS $ |
| $1,000 and under | 50.00 |
| $2,000 and under | 100.00 |
| $3,000 and under | 150.00 |
| $4,000 and under | 200.00 |
| $5,000 and under | 250.00 |
| $6,000 and under | 300.00 |
| $7,000 and under | 350.00 |
| $8,000 and under | 400.00 |
| $9,000 and under | 450.00 |
| $10,000 and under | 500.00 |
| $11,000 and under | 550.00 |
| $12,000 and under | 600.00 |
| $13,000 and under | 650.00 |
| $14,000 and under | 700.00 |
| $15,000 and under | 750.00 |
| $16,000 and under | 800.00 |
| $17,000 and under | 850.00 |
| $18,000 and under | 900.00 |
| $19,000 and under | 950.00 |
| $20,000 and under | 1,000.00 |
- The maximum cash advance to a member within 24 hours will be $1,000
- All loans owned by the member must be current at the time of any additional advances
- Interest on cash advanced will be calculated on a daily balance at a rate of 1.50%
