Why Should I become a Member of the JTA Credit Union?

There are many good reasons to become a member of the JTA Co-op Credit Union.

Ownership: as a member of the JTA Co-op Credit Union you are also an owner of the organization.

Convenience: The JTA Co-op Credit Union has twelve locations spread across Jamaica and are within reach of most members. Additionally we may be contacted on our phone line at 876-618-1706 or 876-922-2009. Members are able to view account statements on our website at www.jtacreditunion.com.

Financial Growth: 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 saving grow. Whenever the JTA Credit Union makes a surplus all our members make a surplus too. The Credit Union has consistently been able to pay dividends to our members on an annual basis. Our members are not subjected to hidden fees or unheard of payments that eat away at the savings.

Free Insurance: finally all savings and loans of member of the JTA Co-op Credit Union our members can rest easy because the JTA Credit Union pays these insurance premiums for our members. So when we say that we give our members piece of mind that is what we mean.

The JTA Co-op Credit Union is different from other financial organizations in that we are owned by our members, so it is really the membership that controls how the organization is governed. The membership elects the individuals that they would like to have oversee the day to day operation of the company; and the membership decides how much profit they are willing to accept based on the performance of Credit Union.

There are various savings options available at the JTA Co-op Credit Union. Members start their relationship with us with their Voluntary Share Account which is mandatory. Besides their Shares Account, members can open an ordinary deposit account, an easy access account a golden harvest savings account or join our Christmas club savings plan.

Most certainly, there are investements options that members can make use of. Members can benefit from the Teacher Optimizer Plus which is a 5 years investments paid to members all tax free. The Credit Union also has Term Deposits, these are short term and mature within periods of 30, 90 and 120 days.

The JTA Co-op Credit Union offers loans to suit almost any need in life. If you want a large loan to purchase a house or a small loan just to tide you over the JTA Co-op Credit Union has got you covered.

After becoming a member of the JTA Co-op Credit Union an individual has to wait three months before they can access a secured loan and six months for an unsecured loan.

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 exist not only for borrowing, but for saving. We want our members to be financially independent and one of the best ways to achieve this is through saving, so we encourage our members to save as vigorously as they can before they ever think about borrowing.

Not only can we help our members to purchase a house we deem it a privilege to do so. Home ownership 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 and talk with us.

The Credit Union DOES offer 100% financing on auto loans but this depends on the age of the car. One hundred percent is offered on new cars up to one year old.

The Auto loan is not tie to shares and one of the criteria of being qualify for this loan is the deposit of two percent of the value of the amount you are borrowing. The deposit is also a benefit to the members also as it is a saving they earn interest on and it’s their money at the end of the loan.

If it’s a motor vehicle loan it will take up to 24 hours to retrieve the release of title. However if it’s a property title loan we give four to six weeks to retrieve the title as the release has to be sign by directors and go to the National Land Agency to clear.

We normally give a day or two for the check to be done depending on the bulk of checks to be done on any given day.