PERSONAL | CHARACTER LOANS
Laborie Credit Union Logo
Laborie Branch  758.459.6900
Vieux-Fort Branch  758.459.6925
Laborie Co-operative Credit Union Ltd.
Life is unpredictable. Expenses and debts appear out of nowhere blindsiding us. We at the Laborie Credit
Union understand just how difficult those times can be. Our solution? A personal loan.

A personal loan is any loan which is secured only by the savings of the member where such savings is less
than the value of the loan. The maximum amount at risk on a character loan will be twelve thousand
dollars ($12,000)

Requirement for Character Loans

Loans up to $5,000    -   30% Security Deposit
Loans above $5,000   -   40% Security Deposit
Repayment period: Maximum 5 Years

Other requirements include:

Letter from Employer Stating Length of Service
•  Salary Slips (latest)
•  Required Share Deposit
•  If self-employed - evidence of income
•  Open Bill from supplier
•  Copy of work estimate from contractor
•  Life insurance assigned to the Credit Union
•  Property insurance assigned to the Credit Union
•  Funds for Legal Fees
•  Credit statement from bank or borrower
•  Evidence of need of medical treatment
•  Evidence of cost of medical treatment
•  Certificate of independent legal advice from surety
•  Suitable co-maker