Rise & Restore Loans
 websitebannerriseandrestore.jpg RISE AND RESTORE LOANS
Restoration Process

NCCU is pleased to offer the following loan product to assist members in the restoration process. Members can access this special loan up till December 31, 2018

Rise and Restore Loans:

Purpose

  • Repair homes
  • Repair motor vehicles
  • Retrofit houses 
  • Replace furniture, appliances, and equipment
  • which were damaged during the passage of Hurricane Maria

    Terms

    Loan Maximum

    • $50,000  (this is not an entitlement but based on member's needs) 

    Interest Rate

    • Low, low-interest rate of 5% per annum on the reducing balance 

    Repayment Period      

    • Up to 15 years (180 months)  

    Security and Conditions

    Security

    • Compulsory and Security Savings are waived 
    • Loans must be secured if member's loans exceed the 'Character Loan" facility of $10,000
    • Member must provide the  assessors' report and, where necessary, the most recent  valuation of the house 
    • A mechanical report is required for motor vehicle repair loans

    General Conditions  
    • To qualify for this special loan facility, the member must demonstrate that he/she was affected by Hurricane Maria,
    • Other Terms and Conditions apply. 

    Low Monthly Payments

     

    Rise and Restore Home Repair Loans Click here to view monthly payments

    Rise and Restore Furniture and Appliances Click here to view monthly payments

    Rise and Restore Vehicle Repairs Click here to view monthly payments