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Get Started – Member Benefits

Member Benefits

Being a Member has its Perks
Becoming a member of the Lifetime Co-operative Credit Union entitles you to a range of benefits:



  • Easier Access to Loans

We offer a quick and easy application process with little red tape. Loans within the amount of your savings are granted almost instantly!


  • Immediate Eligibility for Loans

Members are required to establish a savings history with the Credit Union over a period of at least three (3) months, before applying for an unsecured loan. Starting a savings plan is an easy way to help build your savings! For more information, please contact us at 431-0803.


  • Lower Rates of Interest Payable on Loans

Commercial banks and other financial institutions charge interest on the “add on” basis which means that you pay the same interest every month for the life of the loan. We calculate interest on the “reducing balance”. The less you owe, the less interest you pay monthly. This means you enjoy significant saving on interest charges with us.


  • No Loan Application Processing Fee

Unlike many other financial institutions, we do not charge a fee for processing loan applications.



  • Insurance Benefit

In the event of death, we will pay a sum of money to your estate. Any outstanding loan balances with the Credit Union are also paid off up to a fixed maximum.


  • Temporary Disability Insurance Benefit

If you are unable to repay a loan due to temporary disability, insurance will cover your repayments for a period of 6 months.

Extra Cash

Extra Cash

  • Dividends Paid on Shares

Enjoy additional income from your Share Account every year that a dividend is paid.

Family and Friends

Family and Friends

  • Relatives Eligible for Membership

Your relatives are eligible for membership through you. So encourage your relatives to join the Credit Union so that they too may reap the benefits of membership.


  • Joint Accounts

You can have a joint account with a spouse, family member or close friends. This account provides dual access to one account for deposits or withdrawals.

Just for you

Just for you

  • Participation opportunities

As a member you have the opportunity to contribute to the development of your Credit Union by offering yourself for election to the Board of Directors or one of our committees.


  • Share-owner of a successful Financial Organisation

When you join our family you also become a part-owner of the Credit Union. Your membership affords you certain rights and privileges and entitles you to benefit from any dividends paid.


  • Convenience of Saving through Payroll Deductions

We can arrange to have your Credit Union savings deducted weekly or monthly from your wages/salary and forwarded directly to us for your ease and convenience.


  • Special rates of Interest Paid on Fixed Deposits

Enjoy special interest rates on fixed deposits. The larger your deposit the higher the rate of interest paid.


  • Educational and Self-Improvement Opportunities

We offer free seminars on wealth creation, business start-up and other topics pertaining to financial management are facilitated. These seminars help ensure that you can make informed decisions about your finances.

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