About loans
At UCC Credit Union, we are committed to empowering our members with access to flexible and affordable loan options tailored to their needs. As a member-owned financial cooperative, we prioritize your financial well-being and strive to offer personalized service, competitive rates, and a seamless borrowing experience. Here’s what you can expect from our loan offerings
The Kinds of Loans we have
- Regular Loans
- Short term Credit
- Akwaaba loan
Our Regular Loans are designed to provide you with the financial support you need for significant life events or major purchases. Whether you're planning a wedding, funding your education, or renovating your home, our Regular Loans offer competitive interest rates and flexible repayment terms to suit your budget. With personalized service, we ensure that your loan application process is smooth and efficient, helping you achieve your financial goals without undue stress.
When you need quick access to funds for unexpected expenses or short-term financial needs, our Short Term Credit options are here to help. These loans are perfect for covering emergency medical expenses, urgent home repairs, or any other immediate financial requirements. We offer fast approval and disbursement processes, ensuring that you get the money you need without delay. Our Short Term Credit options come with reasonable interest rates and repayment terms designed to fit within your short-term financial plans.
The Akwaaba Loan is a special loan product tailored to welcome and support new members of the UCC Credit Union community. This loan is perfect for new employees, fresh graduates, or anyone new to the area looking to settle in comfortably. The Akwaaba Loan offers favorable interest rates and flexible repayment schedules to help you with initial expenses such as setting up a home, purchasing necessary items, or covering relocation costs. Our goal is to make your transition smooth and stress-free, ensuring you feel at home with our financial cooperative.
Loans Policies
-
The Union grants loans to its members.
-
Loans are granted for any worthwhile purpose, Productive/Provident.
-
Application for a loan must be in writing on the prescribed forms.
-
The Board of Directors determines the maximum loan to be granted to a member from time to time.
-
No individual member is allowed to borrow more than 20% of the total savings of the Union.
-
A loan amount for the first-time borrower after six (6) months of regular savings shall be a maximum of twice the member’s savings.
-
Members may be given thrice their savings balance in subsequent borrowing.