Debt Consolidation Loans
Burdened by high-interest rates and many loan repayments? Let NCCU consolidate ALL your debts


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


  • 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


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


  • 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


All loans are subject to NCCU’s Loan Policies and approval procedures

To find out details on what can be used as security click here.