August 22nd, 2018

Many low-income individuals don’t have access to traditional forms of credit. Getting credit without a credit history, with a poor credit history, can also be a challenge. A small loan – advanced based on the character of the borrower and the strength of the case for a loan – is a good way to begin building a solid credit history.

After saving regularly for 3 months or more, members can apply for loans. The pooled savings of members’ makes it easier for persons to receive small loans are reasonable interest rates.

The FND Credit Union lends to

Individuals – monies can be used for personal spending, vacation, house improvements, vehicle purchase, education, Christmas expenses, and emergency expenses. Persons seeking financial assistance to further their education, upgrade their skill set in a particular area or purchase items for personal growth and development such as computers and other technological accessories are can apply for character loans.

Businesses – small and micro size entities that are not able to obtain loans through traditional commercial banking systems; entrepreneurs who may not have the necessary collateral to establish their business.

Community Groups – available funding provided to community based organizations or groups. Special conditions apply.

Loans Description Apply
Quick Response Less than $30KPayable in 3 monthsINTEREST FREE10% service charge/application feeFast processing Click here to apply
Business Loans Up to $200KRepayable in 84 months (7 years)15% on reducing balance Click here to apply
Education Loan $80K maximumRepayable within 96 months (8 years)10% reducing balance with 3 months waiver.Interest only payable during life of programme Click here to apply

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