From time to time our members ask us specific questions about the Credit Union and how membership can benefit them.  Here are some of the most pertinent questions that our members ask. 

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1. Why should I become a member of the JTA Credit Union?

This question typically comes from persons who are new with the Credit Union and those who are thinking about joining us. To them we say there are many good reasons to become a member of the JTA Co-op Credit Union 


  • Ownership: the JTA Co-op Credit Union is a member-owned organization. Every member counts. It is the membership that determines how the Credit Union is governed. A portion of the profits i.e surpluses that are realized at the Credit Union is given back to all its members.
  • Convenience: with the JTA Co-op Credit Union our members have easy access to their savings. Each member is encouraged to open an Easi Access Savings Account. Which is linked to a regular savings account, the Easi Access account, that allows members to have access to their savings 24 hours a day, 7 days a week. The account comes with an Access Plus debit card that can be used at any point of sale machine or to withdraw funds from any ATM island wide.
  • The next good reason to join the Credit Union is that your money works for you. When you save with the JTA Co-op Credit Union you can literally watch your savings grow.  Whenever the JTA Credit Union makes a profit/surplus all our members make a profit. We have consistently been able to pay dividend to our members on an annual basis and our members really appreciate this. We don’t have hidden fees or burdensome account charges that eat away at the savings of our members. 


2. Who can become a member of the JTA Co-op Credit Union Ltd.?

Membership is opened to all workers in the educational sector who are members of the Jamaica Teachers’ Association (JTA).
How do I become a member?
Once you are a member of the Jamaica Teachers’ Association you are eligible for membership at JTA Co-op Credit Union. You may join by completing our membership application form (see e-forms page for a copy) and submit the following with your completed application form:

  • Passport-sized photograph
  • Two of your most recent payslips (for proof of income)
  • Proof of address. This may be a utility bill in your name or postmarked envelope addressed to you. You may also submit an address verification form witnessed by any of the following: JP, Police Officer in the rank of Inspector, School Principal or Minister of Religion
  • Proof of JTA membership. Your payslip or your JTA membership card may suffice here
  • Valid photo ID ( Drivers’ Licence, Voters’ ID or Passport).
  • TRN card – needed if ID being used is a Passport or Voters’ ID
  • Initial deposit of $2,510.00


3. What makes you different from other Credit Unions or other financial institutions for that matter? 

The JTA Co-op Credit Union is different from other financial institutions in that we are owned by our members, the membership then elects individuals to oversee the day to day running of the company. 
The membership participates in the decision as to how much dividend or interest is paid based on the performance of the of the Credit Union. The JTA Co-op Credit Union is different from other Credit Unions and financial institutions in that it consistently makes dividend to each member. The Credit Union prides itself in accepting low and in some cases no processing fees from our members. We make saving easy with a salary deduction system that cost the member nothing. 


4. What are the savings options available to me at the JTA Co-op Credit union?

There are various savings options available at the JTA Co-op Credit Union. Besides being able to save in a voluntary share account which is mandatory members can open an Ordinary Deposit Account, an Easi Access Account, a Golden Harvest Savings Account or join our Christmas Club savings plan.


5. Can I invest with the JTA Co-op Credit union?

Most certainly, again like our savings portfolio, we have investment options. We have the Teacher Optimizer Plus (TOP) which is a tax-free fixed account where members can deposit as little as $25,000 leave it for five years and earn 6% interest on the fixed amount. There is also the term deposit where members can invest as little as $10,000 for between 30 and 90 days. 

What kinds of loans can I access at the JTA Credit Union?
The JTA Co-op Credit Union offers loans to suit almost any need in life. Our loans range from within shares to vacation loans. It really depends on the need of the member and what they want to accomplish. We have a loan package for every member.


6. How soon after becoming a member can I borrow?

An individual is eligible for a Loan within Savings immediately after joining.
You are eligible for a Starter Loan or any secured loan after 3 months of consistent savings.
You are eligible for all other loans after 6 months of continuous savings.


7. How much can I borrow?

You are eligible to borrow up to 10 times the amount saved in your shares account. The maximum amount any one member is able to borrow is $ 10 million.


8. Are my loans at JTA Co-op Credit Union insured?

JTA Credit Union insures loans of up to $6 million (for each member) at no cost to members.


9. Why do I have to wait 3 or 6 months before I can access some loans? 

The answer is simple and twofold 1. A member can borrow up to 10 times what is saved in their shares; however, most individuals when they first become a member of the Credit Union they may not necessarily have enough money to deposit to their share account that would make borrowing meaningful or worthwhile. 2. The Credit Union exists not only for borrowing but also for saving. We want our members to be financially independent, and one of the best ways to achieve this is through saving. Therefore, we encourage our members to save as vigorously as they can before they ever think about borrowing.


10. I would like to purchase a house soon can the JTA Credit Union help me?

Not only can we help our members to purchase a house we deem it a privilege to do this. Homeownership is the dream of millions of people and with the JTA Credit Union, it can become a reality. So we invite our members who are thinking of building or buying a house to come in and talk with us. We offer mortgages for as low as 7.5%.