FAQ's
We’re here to make your financial journey as smooth and supportive as possible. Whether you’re curious about becoming a member, applying for a loan, using CUOnline, or setting up a youth account, we’ve gathered the most commonly asked questions in one place. From saving smarter to understanding your dividends, explore the answers that matter most to our members.
Common Questions
FAQs
Find quick answers to the most common questions about your membership, accounts, services, and how to make the most of your Credit Union experience.
Car Loans
Yes. Email [email protected] to schedule a pre-approval appointment.
Yes, Financing is available for both used and new vehicles.
Competitive rates with repayment up to 7 years, depending on the car’s age.
Up to 100% financing is available. In some cases, a down payment may be required.
Personal Loans
Based on your income, credit history, and collateral. Repayment terms can go up to a maximum of 20 years.
Apply Now
Apply Now
- Completed loan application
- Two forms of government-issued photo ID
- Current employment letter
- Most recent pay slip
- Financial statements or Statement of Affairs
- Additional documents if using a co-maker or collateral
Within a few business days after approval.
No, you can repay early without penalty.
To cover expenses like education, travel, home upgrades, medical bills, or emergencies.
Xpress Overdraft Loans
Interest is charged only on the amount used. Some fees may apply. Speak to a Loans Officer.
Up to $15,000, based on income and a debt service ratio under 50%.
Yes. Each application is reviewed individually.
Through fixed monthly repayments over the loan term.
Services
Members can access their accounts 24/7 through the CUOnline web portal or the Credit Union Mobile App, available on both Android and iOS. These platforms allow you to:
Check balances
View transaction history
Transfer funds
Make Loan payments
Apply for loans
Credit Union is a not-for-profit, member-owned financial co-operative. Unlike traditional banks, which operate to generate profit for shareholders, Credit Unions operate solely to serve their members. Earnings are returned to members in the form of lower fees, better interest rates, and improved services. Members also have a voice in how the Credit Union is run, including voting rights at the Annual General Meeting.
If an account remains inactive (no member-initiated transactions) for a specified period, it may be considered dormant. Dormant accounts are subject to monthly maintenance fees and can eventually be transferred to unclaimed funds in accordance with regulatory requirements.
To avoid this, members are encouraged to keep their accounts active by making small, regular transactions. For more information on dormancy and account reactivation, please contact the Credit Union directly.
The Credit Union offers a variety of loan products to meet members’ needs, including:
Personal Loans (for education, medical, travel, or special projects)
Vehicle Loans
Home Equity Loans
Mortgage Loans
Line of Credit
All loans come with competitive interest rates, flexible repayment terms, and are processed with a member-first approach.
Membership is open to individuals of all ages. Children and teens can start with a Youth Account under the guidance of a parent or guardian, encouraging early saving habits. At age 18, these accounts can be transitioned to full membership.
Eligible individuals include:
Employees of the Cayman Islands Government, Statutory Authorities, and Government-owned entities
Employees of licensed healthcare facilities, utility companies, and their subsidiaries
Pensioners from these organizations
Registered Agro-processors and active members of the Cayman Islands Farmers Co-operative
Immediate and extended family of existing members who reside in the Cayman Islands
Land Loan
Yes, for both residential and commercial land.
Terms and deposit requirements differ; land loans may be shorter-term.
Submit a completed application and email [email protected] to book a consultation.
Residential and commercial plots, subject to approval.
Mortgage
Use the online mortgage calculator, then email [email protected] to book an appointment for formal pre-approval.
Yes, refinancing is available.
Completed mortgage application,
Two photo IDs,
Employment letter & recent pay slip,
Financial statements or Statement of Affairs,
Additional documents if needed
Typically, 10%–20%, depending on the property and borrower profile.
