Seasons of Celebration Loan

Yes. The Seasons of Celebrations Loan Promotion is available exclusively to TWCU members. If you are not yet a member, you may apply for membership and submit your loan application once your membership has been approved. Membership information can be obtained from any TWCU branch or through our website.
Apply To Become A Member

A new member is defined as a member who has not yet accumulated six consecutive monthly contributions to shares. The minimum Shares requirement (initial amount) is $ 2,500.00 before applying for the loan.

Once your membership application has been approved, you may apply immediately. Loan approval remains subject to credit assessment, affordability evaluation, verification procedures, and normal lending criteria.

Yes. Forty per cent (40%) of the approved loan amount must be retained in shares and pledged as collateral. Where a member does not have sufficient shares to satisfy this requirement, funds may be allocated from the approved loan proceeds.

Yes. Shares retained as collateral remain eligible to earn dividends once declared and approved by the membership at the Annual General Meeting.

The promotional rate is 0.90% per month on a reducing-balance basis, making borrowing more affordable over the life of the loan..

Members may repay the loan over a period of up to 72 months, depending on the approved loan amount and lending assessment.

The promotion provides an initial repayment relief period before your first loan payment becomes due, allowing greater flexibility during periods of increased spending.

Yes.
• Processing Fee: $100.00
• TransUnion Fee: $75.00 (where applicable)

Yes. Members may repay their loan before maturity. Early repayment can reduce the overall interest paid over the life of the loan.

Yes. Existing borrowers may apply, subject to a satisfactory repayment history, an affordability assessment, and compliance with TWCU's lending policies.

Yes. Self-employed members are welcome to apply. Additional supporting documentation may be required, including business registration documents, invoices, financial records, or bank statements.

Yes. TWCU may obtain a TransUnion Credit Report as part of the loan assessment process to evaluate creditworthiness and repayment capacity.

Yes. Members may be eligible for loan protection insurance, which provides coverage in the event of death, disability, or other qualifying circumstances, subject to policy terms and conditions.

TWCU may provide a counteroffer based on affordability, repayment capacity, available security, and lending guidelines.

Joint applications (Co-maker) may be considered in accordance with TWCU's lending policies and subject to the required supporting documentation.

Applications may be submitted through any of the following methods:
✓ Visit any TWCU Branch
✓ Complete and submit a downloadable loan application form
✓ Submit all required supporting documentation
✓ Speak with a TWCU representative for guidance throughout the application process

Repayments can be made through:
✓ Salary Deduction
✓ Standing Order
✓ Other approved repayment methods offered by TWCU

The Seasons of Celebrations Loan Promotion can assist with:
✓ Carnival Activities
✓ Christmas and Holiday Expenses
✓ Mother's Day and Father's Day Celebrations
✓ Weddings and Anniversaries
✓ Travel and Vacations
✓ Educational and Training Expenses
✓ Home Repairs and Improvements
✓ Debt Consolidation
✓ Major Family Events
✓ World Cup Activities
✓ Other Personal and Family Needs

Once all required documents have been submitted, your application will be reviewed and assessed.
Members will be advised whether the application has been approved, declined, or counter-offered.
Processing times may vary depending on application volumes and the completeness of submitted documentation.

Yes. All applications are assessed based on:
✓ Credit Worthiness
✓ Income and Affordability
✓ Internal and External Credit History
✓ Debt Service Capacity
✓ Employment Stability
✓ Security and Collateral Requirements
✓ Overall Risk Assessment

✓ Competitive promotional interest rate
✓ Loan amounts up to $100,000 for qualifying members
✓ Flexible repayment period of up to 72 months
✓ First payment on hold
✓ Opportunity to build savings through retained shares
✓ Dividends earned on pledged shares
✓ Convenient repayment options
✓ Fast and professional service
✓ Trusted financial partner with over 76 years of service
✓ Supports both personal goals and special family celebrations