May 8, 2020

Credit Unions Seal Agreement With Gov’t To Provide Loans to Citizens Affected By COVID-19

By Newsroom

LEFT: Minister of Finance, Colm Imbert. RIGHT: Vice President of the Central Finance Facility (CFF), Mr. Lyndon Byer

Citizens facing the economic backlash from COVID-19 can now access special loans from credit unions, following Friday’s signing of a Liquidity Support Loan Agreement between the credit unions and the Ministry of Finance.

See an excerpt of the release from the Central Finance Facility:

The program which is financed by the Government is intended to provide funds to members so that they can continue to pay their bills and feed families until their circumstances can be improved or when they can turn around their situations.

Loans will be granted at an annual rate of 6% with a maximum principal amount of $15,000.00.


Participating Credit Unions include Community Care Credit Union, PSCU Credit Union, Pentecostal Credit Union, VENTURE Credit Union, Runnemede Credit Union and Mason Hall Credit Union. All will receive backroom technical support from the Central Finance Facility (CFF), the Financial and Developmental Institution of the local Cooperative movement. This follows the signing of the agreement with Government on April 27, 2020, for the establishment of a Government Financed Liquidity Support Loan Facility which will back the Coronavirus Relief Loan.

Individuals can access this facility by contacting their respective credit union or contacting the Central Finance Facility (CFF) at 739 4496 or via email c19support@centralfinancefacility.com.

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