Land & Live Easy Loans
Land Loans
Purchasing a piece of land is one of the most excellent life time decisions. Generally, land appreciates and having your hard earned cash appreciate with little or no risk is the best thing that could ever happen to you. Getting a GUTCCU loan to purchase land is easy.
Features
- Easy repayment packages
- Adjustable down payment requirements
- Low interest rates
- Only legal fees payable
- Short processing time
- Easier access to other loans
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
Live Easy Insurance Loan
Insurance for the vehicle or the house is a must but when they become due the headache starts. Don’t let that be a bother to you, let GUTCCU take care of those insurance needs.
Features
- Easy repayment plan
- Short processing and approval time
- The loan must be repaid within one year.
- The policy will be assigned to the credit union.
- Renewal notice must be presented to the credit union as proof of payment.
- Members whose house or vehicle is insured elsewhere can access loans for insurance purpose at 12% interest.
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
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Personal & Business Loans
Personal Loans
Do you need financing for a new car, a vacation, an investment or worthwhile purpose? A personal loan from us may be the answer. Our terms and payment options are flexible and loans may be pre-approved, so you are free to make that special purchase exactly when you need to.
Features
- Competitive rates
- Flexible repayment options
- Automatic loan payments
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
Business Loans
Managing your own business gives one a sense of pride, achievement, responsibility and financial stability. Being your own boss provides you with a sense of freedom. Establishing a small business is as easy as 1-2-3. Just come with a feasible idea and we will help you make profits.
Features
- Technical assistance with start-up procedures
- Financial advisory and counseling service
- Flexible repayment schedule
- Business Management expertise available
- Up to 80% financing
- Easier access to other loans
- No minimum limit
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
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Education & Auto Loans
Education Loans
Planning for your future takes quite a lot from you, especially when you are not in a solid financial situation. However, increasing your knowledge and expanding your horizon is very important as well. Obtaining a loan to pursue your career goal is not as difficult as planning your future. Provide us with proof of acceptance and let us help you achieve your career goals.
Features
- Flexible repayment schedule
- Low interest rate
- Short processing time
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
Auto Loans
Traveling to work or even for pleasure can be burdensome at times. Having to relax in your own vehicle and leave at any time convenient to you would definitely ease some of the burden. A vehicle loan can be obtained using your savings or the vehicle as security.
Features
- Easy to access
- 1st insurance payment built in
- 20% of required amount must be held in your Regular Savings.
- Sale Agreement.
- Competitive rates
- Terms from 1- 7 years
- Flexible repayment options
- Automatic loan payments
- Valuation on Vehicle (Recommended).
- Bill of Sale fees (2% of vehicle cost)
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
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Mortgage & Lines of Credit
Mortgage Loans
Whether it’s your first or your next home, G.U.T Credit Union offers a range of mortgages to suit your needs, flexibility and budget.
Features
- Open and closed mortgages
- Competitive rates
- Flexible amortization periods up to 30 years.
- Flexible repayment options, including weekly, semi-monthly and monthly payments.
- Direct deposit and automatic account transfers for mortgage payments.
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
Benefits of a G.U.T Credit Union Mortgage
What truly makes us unique, and why we say "it's good to be here," is the relationships we have with our members. We are the friends, neighbours, customers and suppliers of many of our members. We share your passion for living, working and traveling and make the same financial decisions as you do.
In addition, we give back to our members and the communities we operate in. Each year we share profits with our members, spend locally, and provide donations to many organizations.
Financing Your First Home
At G.U.T Credit Union, we specialize in residential mortgages. A loans officer can provide you with valuable advice that will save you money on probably your largest single investment: your home. We'll help you choose the right mortgage for all the right reasons: rate, flexibility, service and convenience.
How to Apply
We believe that the best way to apply for a loan is to talk to the person that will be appraising the application. That is why we don't have online loan applications; instead, we encourage you to drop in and see us, or phone the office nearest to you and talk to us.
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Ready Money
Prestige Line of Credit by the Grenada Union of Teachers Credit Union.
What is Ready Money?
Ready money is a special line of credit design to assist members in managing their finances.
We assist members with ready cash without having to reapply for a loan each time the need arises.
Who Needs Ready Money?
- People who are experiencing an increase in their cost of living.
- People who are having difficulties repaying multiple debts.
- People who are having problems with budgeting properly.
Purpose of Ready Money
- It’s a form of debt refinancing for a number of small loans.
- To have money available for emergencies.
- Payment for furniture and appliances instead of taking hire purchase.
- For investment purposes e.g. small business.
- Education for yourself or your children et cetera.
Why Should You Apply?
- No time to fill out loan forms for small amounts.
- Need for emergency money.
- To take advantage of an opportunity.
- To save money when purchasing household Items.
- To consolidate small loans.
- You apply once and have a specific credit limit approved for you.
- You can get cash from the tellers as you wish.
- Your loan will be insured in case of death.
Remember special conditions apply
Loan Product
Interest Rate:
- Varies according to amount of security offered, source of funds, and security of employment et cetera.
Duration:
- The minimum payment will be calculated for a ten year period– however there is no real time limit to the loan.
Criteria
- Regular savings balance minimum of 1/5 of the total credit line.
- Salary assignment.
- The borrower must be permanently employed.
- The borrower should have an acceptable form of security, (i.e. the total amount must be fully or partially secured).
- Payment of minimum amount until loan is paid off.
Application Process
- Fill out application form.
- Application will be reviewed by the Credit committee.
- Credit limit, collateral and minimum payment will be determined.
- Collect monies at any GUTCCU office.
Termination
- The facility can be terminated at any time by the borrower or by the GUTCCU.
- If you fail to meet your monthly commitment, facility could be terminated.
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