GCCU Products & Services

GCCU Products & Services

Equity Shares

A member must purchase forty (40) shares when signing up for membership. These forty (40) shares represents your equity shares.  This is saying that you are a part owner of the Gateway Co-operative Credit Union Limited (GCCU).  Furthermore, this amount represents your permanent capital and therefore they cannot be withdrawn.  However, they can be transferred to a member of the Credit Union. 

Regular Shares

This account is intended for long term savings.  We encourage you to save regularly in this account as it can be used to secure any future expenses that you may have.  The cost per share is only $5.00.  Shares earn dividends which are usually paid every year unless otherwise specified.

 For more information regarding purchasing shares please contact our office.

Regular Deposits

It is intended for savings to meet your everyday expenses; as such, you are free to deposit and withdraw as you wish. If you unable to come into our office you can always send a salary deduction as a sure way to save. When you save with us, 4% interest is paid every June and December.  We encourage you to take advantage of this opportunity and save with us.

Fixed Deposits

A fixed deposit allows you to save a money for when you really need it.  It could be a vacation or cruise. To open a fixed deposit with us, you must deposit a minimum of $1,000.00.  Fixed Deposits invested for 1 year earns 3% interest; 2 years 3.5%; 3 years 4%; 4 years 4.25%; 5 years 4.5%; 6 years 4.75% and 7 years 5%.  How every long you choose to stay, and the end of the specified period you earn interest and the original amount of your deposit.  You can also choose to reinvest or transfer you funds.

Loans

Share Loans

We offer share loans for whatever situation that may arise in your life.

Requirements for Share loans

  1. You must have the equivalent in either regular shares or savings of the amount that you want to borrow.
  2. Share loan form filled out in entirety.
  3. One 1% loan processing fee.
  4. Signed promissory note.

Other Loans

We offer loans for:

  1. Mortgages
  2. Vehicle Purchase
  3. Medical
  4. Construction/Renovations
  5. Debt Consolidation
  6. Vacation
  7. Study

Requirements for obtaining other loans:

  1. Loan Application form filled out in entirety.
  2. Fifteen percent (15%) of the requested amount deposited to either your shares or savings account.
  3. Pay slip & Job letter.
  4. Additional documents depending on the type of loan. (Further info can be sought at our office).
  5. Additional security for loan e.g. bill of sale, co-maker etc.
  6. Two (2%) loan processing fee.
  7. Signed promissory note.

Contact

Telephone: 439-5637
Cell: 534-5637
Email: gccu@gatewaygda.org

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Gateway Assembly,
P.O. Box. 1452,
Grand Anse,
St. George,
Grenada,
W.I.

Phone: (473) 439-2909

Email: office@gatewaygda.org