Benefits

Save Money

• Interest rate of 11% per annum on the reducing balance for general debt consolidation, 12% per annum for hire purchase & credit card consolidation. (6.5% For home loans, 8.25% For a Vehicle with home, all calculated on reducing balance)
• No loan processing fees
• No hidden charges

Peace of Mind

• One loan to repay at a lower interest rate

Flexible

• Up to five (5) years to repay for ordinary consolidations
• Repayment can be extended to 10 years to facilitate applications for a home or medical loan
•  Members with mortgages can qualify for 10+ years for consolidation of other debts

Safe

• Up to $150,000 in loan protection coverage is offered at no cost to you 

Requirements

• A minimum of 5% of the total amount of the loan requested 
• Statements, invoices and letters from creditors with the amount owed. Amounts in excess of $5000 owed to a single creditor should be notarized
• Employed persons -- most recent pay-slip or salary statement from your employer
• Self-employed persons -- recent financial statements of the business  
• Member Shares based on the amount of loan
• Details of security being offered
• Your NCCU passbook(s)  
• A valid photo identification (eg. Social Security card, passport) 
• Details of your liabilities and commitments (other loans, hire purchase, household expenses) 
• If the approved loan is $77,000 and upwards or you are 50 years and older, a medical examination by an approved medical doctor is necessary for loan protection insurance coverage
• For larger consolidations (eg. Mortgage). Other supporting documents may be needed 
• Member Shares/Loans click here