Frequently Asked Questions
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:
Two of your most recent pay slips (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 pay slip 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
How soon can I borrow?
You are 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
How much can I borrow?
You are eligible to borrow up to 10 times the amount saved in your shares. The maximum amount any one member is able to borrow is $ 10 million.
Are my loans at JTA Co-op Credit Union insured?
JTA Credit Union insures loans of up to $6million (for each member) at no cost to members.
What are the investment rates at JTA Co-op Credit Union like?
JTA Co-op Credit Union will pay members up to 7% pa. on investment in the Teachers Optimizer Plus account. Members earn 6% pa. on savings in the Golden Harvest Savings Account.