Loan Application

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LOAN APPLICATION FORM

 IMPORTANT INFORMATION ABOUT LOAN APPLICATION

Loan Requirements

At The Light & Power Employees Co-operative Credit Union Ltd. (LPECCUL), we make it easy for you to access the financial support you need with our range of loan products. To ensure a smooth application process, please ensure you meet the following requirements before applying:

Basic Loan Requirements:

  • Completed Loan Application Form
  • Proof of Employment
    • A valid job letter from your employer
  • Proof of Income
    • Recent pay slips covering the last 2 months
  • 10% in Shares (required for regular loans)
    • You must hold at least 10% of the loan amount in shares with LPECCUL
  • Identification
    • A valid Government-issued ID (passport, driver’s license, or national ID)
  • Proof of Address
    • A recent utility bill or bank statement (not older than 3 months) showing your current address

Additional Requirements (Specific Loan Types):

For specialised loans such as vehicle, real estate, or green loans, additional documents may be required, such as:

  • Invoice or Sale Agreement (for vehicle loans)
  • Property Valuation Report (for real estate loans)

Once you’ve gathered all the necessary documents, you’re ready to apply. Our team is here to help guide you through the process and answer any questions you may have.

Apply today and let us help you reach your financial goals with a loan tailored to your needs!

STEP 1
Complete your Loan Application by downloading it here:

STEP 2
Upload Loan 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

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