SOUND FINANCIAL PRACTICES...

SPECIAL LOAN PACKAGES

Many times good fortune comes not from good luck but the ability to take advantage of a good opportunity when it arises. With the special loans AGECU arms the membership with this ability in key areas identified by our special loan packages. While this may be true, however, one must always remember to practice sound financial techniques to ensure financial stability is maintained. An easy tip for monitoring your financial stability is to see whether your are too much in debt and this can be done by utilizing the Debt Service Ratio (DSR) calculation. An acceptable DSR is when your total deductions do not exceed more than forty percent (40%) of your gross income. If it exceeds this limit you should look into minimizing your total deductions by not acquiring additional debt or consolidating or refinancing your current debt to reduce your monthly/weekly deductions.
Cor. Trinity Ave and EMR, Lavantille

AGECU
AGECU
Phone: 868-623-1841 ext 334 E-mail: crunion@angostura.com

Y O U D R E A M W E F I N A N C E

Building bridges to a better tomorrow

Soaring to new heights with every opportunity ...

THINKING OUTSIDE THE BOX...

Debt Consolidation Loan The special debt consolidation loan is a loan offered at 0.9% interest on the reducing balance where the credit union consolidates all the members current loans, or purchases the members debt from other financial and utility institutions and consolidates it into one loan, thereby giving the member one manageable monthly/weekly installment to pay. The external debt will be limited by the members collateral and ability to service the loan. Vehicle Loan The special vehicle loan is a loan facility that has zero down payment, (optional 1% processing fee for 1% interest on loan) and the car is used as collateral to cover the full cost of the loan, the member must however be able to service the loan re-payments. Company Home Improvement Loan The special company home improvement loan allows for a loan totaling a maximum of $35,000.00 for improvements to be made to a house in the members name, where the member repays the principle and the company pays the interest.
*All Loans will be subject to AGECUs Loan qualification policy, the members financial standing and their ability to repay the loan. Loans may not be granted based on the these criteria.

To think outside the box is to look further, trying not the obvious but thinking beyond them Thats what we have done with our specialty loan packages, weve gone outside the regular share secured loan parameters, giving something a little extra with the members loans While special loans can be created throughout the year based on trends and patterns in the borrowing market and the needs of the membership, there are seven (7) general loans that are usually offered throughout the year and some at specific times in the year.

SEASON SPECIFIC LOANS

Education Loan The special education loan is a loan offered at 0.75% interest to be repaid within 12 month and is to facilitate the members with back to school expenses. Kindergarten - $1,500.00 per child, secondary - $2,500.00 per child, tertiary $3,500.00 per child. Dividend Loan The dividend loan is a special interest free loan for the total percentage dividend decided on at the AGM that the member can take. If the loan isnt repaid after twelve (12) months the loan balance will be transferred to the secured loan balance of the member. Christmas Loan The special Christmas loan is where the member can get double the amount of money they put on shares however the loan granted should not exceed $30,000.00.

YEAR ROUND LOANS

Cash and Investment Loan The Cash and Investment Loan Member is a special loan of up to $30,000.00 at 1% on the reducing balance. The member will receive 50% in hand and 50% will be invested at a guaranteed interest rate as per fixed deposit schedule, maturing between two years (2) to two and a half years (2.5) from investment date. This loan can be accessed again at the point of maturity

AGECU

Cor. Trinity Ave and EMR, Lavantille

Forging ahead for a brighter future...

Phone: 868-623-1841 ext 334 E-mail: crunion@angostura.com