LOANS & SERVICES
Borrow, save and send money with people who know you
Every loan below comes with fair terms and a loans officer who will sit with you to plan repayments that fit your income. Read the requirements for the loan you need, then chat with us on WhatsApp or visit us in Richfond.
LOANS
A loan for every stage of life
Vehicle Loans
Why hitch a ride when you can cruise in your own? Our vehicle loans come with fast approval and reasonable repayment terms on new and used vehicles.
Vehicle loan terms and requirements
Mortgage Loans
Finance a house and land, or land alone. Your contribution should be at least 20% of the cost, and repayment can be spread over as many as 25 years. Residential mortgages require life insurance on the primary borrower to be assigned to the credit union, and term coverage is acceptable.
Debt Consolidation Loans
Too many bills and loans to keep track of? Bring them together into one loan, reduce the interest you pay and put extra cash back in your pocket each month.
Debt consolidation requirements
Education Loans
Planning a degree, a higher education programme or a professional qualification? An education loan from MVCCU helps you invest in your future.
Business Loans
Micro and small businesses need capital to reach their full potential. Our updated business loan process is designed to help your business grow.
SAVINGS & SERVICES
Grow what you own
Equity Shares
Equity shares make you a part owner of the credit union and give you a vote at the Annual General Meeting. Each share has a par value of $5.00, and every member holds at least 40 shares ($200.00). Dividends are paid each year at a rate set at the AGM, within the limit allowed by the Co-operative Laws of Saint Lucia.
Ordinary Shares
Ordinary share savings can be withdrawn and can also secure a loan. Shares pledged as security stay in place until that loan is repaid in full. Interest is paid each year at a rate set by the Board of Directors.
Deposit Accounts
A simple, fee free savings account with easy access to your money, whether you are saving for retirement or for a rainy day. Open one with as little as $5.00. Interest is paid each year at a rate set by the Board of Directors.
Western Union and SurePay
Send or receive money in minutes. To send, bring valid ID and the receiver's name and location, complete the form, pay and collect your receipt. To receive, bring valid ID and the MTCN number, complete the form and sign the receipt to collect your funds.