MEMBER APPLICATION FORM
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To assist the Government in fighting the funding of terrorism and money laundering activities, national law requires all financial institutions to obtain, verify, and record all information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your passport, driver’s license, or other identifying documents. Additionally, we will ask for information which establishes the source and anticipated level of funds which will be processed through your account.
STEP 1
Complete you Membership Application by downloading it here:
STEP 2
Upload Membership Application Form & Other Documents here:
IF YOU ENCOUNTER ANY ISSUES UPLOADING YOUR DOCUMENTS
YOU MAY EMAIL THEM TO “MEMBERSERVICES@LPECU.BB”
Benefits of Membership
- You become a part owner of a financial institution. You can access credit in the form or loans at low rates.
- When you borrow from the Credit Union, your savings remain intact so that while you pay your loans your savings can continue to grow. This helps to maintain wealth.
- You have the convenience of payroll deductions.
- Unlike other financial institutions the Credit Union shares a percentage of its yearly profits with its members.
- Your savings are entitled to Life Savings Benefits up to a maximum of $25,000 so that in the event of your death, your beneficiaries will receive your savings as well as other benefits. If death is the result of an accident this benefit will double. There is also an additional funeral benefit of $3,000 based on your savings
- Your family/beneficiary is protected against hardship in the event of death, through the Loan Protection Benefits. Generally the loan of a deceased member is automatically written off up to the maximum started. There are certain conditions however, which can impact the settlement amount.
- In the event of temporary disability e.g. sprain or broken limbs, the loan is repaid for you for three months up to a maximum of $3,000.00. See more
