Learn More About Our Services
Motor Vehicle Loans
What is the maximum amount of money that I would be able to receive for the motor vehicle loan?
Gateway will finance up to 95% on new motor vehicles.
What are the requirements for applying for the motor vehicle loan?
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A valid driver’s license
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Credit report from a credit bureau
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Employment Letter
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3 recent payslips, where using a guarantor, their payslips and employment letter must be presented
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Passport sized pictures
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Sales Agreement or Pro Forma Invoice from Car Dealer/Vendor
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Valuation Report
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Copy of Motor Vehicle Title/ Import Entry Document
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Copy of Fitness and Registration Certificates
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Insurance Quotation (Comprehensive Only)
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Road Permit (for vehicles that will be used for commercial purpose)
How long is the application process?
Is there any prepayment penalty?
No,there is no prepayment penalty for the motor vehicle loan.
Is the motor vehicle only specific for obtaining cars for private use?
What is the interest rate?
What is the maximum amount of years I can get to repay my motor vehicle loan?
What is the year range for the motor vehicles that would be eligible for the motor vehicle loan?
Do I need collateral to apply for the motor vehicle loan?
Are there any application fees required in applying for a motor vehicle loan?
The application fees that are required for the motor vehicle loan is 1.5% of the approved loan amount.
How much financing is offered for Trucks, Trailers and Tractors?
If I were to be approved for the loan, how long would it be before I receive the money from Gateway?
Mortgage
What is the maximum amount of money that I would be able to receive for the mortgage loan?
What are the requirements to receive this mortgage?
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Copy of Registered Title
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Signed Sales Agreement and Evidence of Deposit
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Valuation Report not older than 2 years
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Surveyor’s Report not older than 1 year
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Verification of Income
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Last 3 Months Pay Slips
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Up-To-Date Property Tax Receipt
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Proof of Age of Borrower & Co-Maker
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Letter of Guarantor (where applicable)
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NHT Referral Letter (where applicable
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Discharge of Mortgage (where applicable)
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Income and Expenditure statement and Cash Flow Projections (self employed)
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Approved Building Plan
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Estimate for Work to be Done
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Quantity Surveyor’s Report with Estimated Cost
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Written Agreement with Contractor
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Relevant Requirements Noted Above
How long is the application process?
The average processing time for the mortgage loan application is 3 months
How is the interest rate calculated on the repayment of the mortgage?
Are there application fees for the Mortgage?
Do I need collateral when applying for this mortgage and if yes, what type of collateral would it be?
The property would serve as collateral.
Is there a prepayment penalty?
On what basis would Gateway structure the repayment period?
The repayment time would be based on your age, up to a maximum time of 30 years.
If I have been approved for this loan, how long after would I receive the money?
If you have been approved for the loan, you will receive the money in less than 10 days.
Is the mortgage portable to another property if I decide to move?
General Questions
What are the opening hours of Gateway Co-operative Credit Union Ltd?
Where are the branch locations for Gateway?
The head office is located at 20 Church Street, Montego Bay. There are two additional branch locations at Unit 14, The MarketPlace, Bogue Estate, Fairview, Montego Bay and Main Street, Lucea, Hanover.
A new branch location in Trelawny is also coming soon! Stay tuned!
What is the contact information for Gateway's Fairview Branch?
(876) 952-1190-2
What is the contact information for Church Street Branch Gateway?
What is the contact information for Lucea Branch Gateway?
What are the requirements for opening an account at Gateway?
Is there a minimum deposit required when opening the account? If yes what is that amount?
How can I become a member of Gateway?
You would also need $3,300 which would be your account’s opening balance. In the absence of the utility bills your referencer may confirm your address.
Who does Gateway cater to?
Is there a minimum balance that must always be in my account? If so, what is it?
What type of products do you offer?
We offer loans, insurance products, and savings plans.
Will I be able to access or pay my bills online?
Are debit cards offered by Gateway and if so where can it be used?
Can I open a joint account?
How are credit unions different from banks?
Do you accept cheques as a method of payment?
Can I get a loan without being a member?
No, Gateway products and services are only offered to its members.
Is there a limit to the number of withdrawals I can make each month?
Are there fees associated with ATM withdrawals?
In which of the ATMs can my debit card be used?
Can I use my debit card while travelling internationally?
No, your Access Plus Debit Card can only be used locally and for local purchases.
Does Gateway offer any unsecured loans?
Can I have more than 1 loan at the same time at Gateway?
Yes, you are able to have more than one loan at the same time at Gateway.
How do I shop online with my credit union debit card?
Am I able to deposit international currencies in my account?
Yes, you are able to deposit international currencies in your account, however, we will be converting the international currency to Jamaican Dollars based on the going rate.
What’s the procedure to get a debit card?
Once you have opened up a Gateway account you will automatically receive an Access Plus Debit Card. There is no additional application needed.
Can I deposit in my account via the Multilink system?
What is the oldest vehicle Gateway would accept as collateral?
How can I get a loan?
In order to receive a loan you would need to apply for the specific one that you desire. This can be done by filling out a loan application form online or in branch. The required documents and application process will vary based on the desired loan.
Does Gateway offer standing order services?
What are the benefits of having this standing order?
Does Gateway offer Payroll Deduction Service?
Are Bank Statements offered at Gateway?
Is mobile banking available?
How long after I join do I have to wait to get a loan?
Normally, you would have to wait 6 months before obtaining a loan. However, if you are employed to a company that allows for salary deduction then you are able to obtain a loan before 6 months.
If I live outside of Jamaica and I am a member of Gateway, will I be able to save with Gateway?
If I have a loan from Gateway, what are the methods of payments that I would be able to make (Direct Transfer, Cheque, Physical Payment)?
Will there be a Trelawny Branch?
A new branch location in Trelawny is coming soon! Stay tuned!
Small Business Loans
What is the maximum amount of money offered in the Small Business Loan by Gateway?
What is the minimum amount of money offered in the Small Business Loan by Gateway?
What are the requirements to apply for this loan?
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Business Plan/Proposal
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Location of Business/Tenancy Agreement
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License of Permit
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Business Registration Certificate
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Income and Expenditure Statement From a Certified Accountant
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Pro Forma Invoice for Equipment or Material to be Purchased for The Business
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Contractors Estimates For Any Form of Construction
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Valid ID & Passport-Sized Photograph (signed by a JP)
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Collateral (Real Estate, Motor Vehicle, Cash Surrender Value of Life Insurance or Cash Guarantees)
What’s the maximum time to have to repay my Small Business Loan?
What is the interest rate on the repayment of the Small Business Loan ?
Do I need collateral when applying for the Small Business Loan and if so what collateral is required?
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Real Estate
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Motor Vehicle
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Cash Surrender Value of Life Insurance
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Cash Guarantees
What can the Small Business Loan be used for?
Is there any penalty for missing one month in repayment and what would it be?
Yes, there is a penalty.
Is there a prepayment penalty?
If I have been approved for the Small Business Loan, how long before I receive the loan money?
What means would I be able to make the payments each month (Online, Cheque, Physical Money)?
How long will the loan application process take?
What type of businesses tend to get this type of loans?
This type of loan is created for Micro or Regular businesses.
Are there applications fees for the Small Business Loan?
The application fee for the Small Business Loan is 1.5% of the approved loan amount.
Does the Small Business Loan require that there be a personal guarantee?
If my personal credit score is bad but my business’ credit score is good, would I have a chance of still receiving the Small Business Loan?
Gateway judges based on your credit history, not the business, as the loan will be issued in your name.
Cash Secured Loan (Within Shares)
What is the Within Shares Loan?
What’s the maximum time I have to repay my Within Shares Loan?
You have up to 10 years to repay the Within Shares Loan.
What is the maximum amount that I can receive for the Within Shares Loans?
What are the requirements to apply for this loan?
What would be the maximum interest rate on the repayment of the Within Shares Loans?
How do you go about approving the loan amount I would receive?
You are borrowing your own money, therefore, once you have the money in your account you will be able to receive a loan.
How long is the application process?
There is same day processing and approval.
How long before my loan is approved?
Do I need collateral when applying for the Within Shares Loan?
Yes, the collateral is the funds in your share account.
Are there any applications fees associated with applying for this loan?
There is no application fee for the Within Shares Loan
Cash Secured Loan (Internal Cash Secured)
What is the Internal Cash Secured Loan?
What is the maximum amount that I can receive for the Internal Cash Secured Loan?
What is the interest rate?
How long would I have to repay the Internal Cash Secured Loan?
What are the requirements to apply for this loan?
Members would need to have:
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At least 5% in shares -
A valid ID, -
Tax Registration Number (TRN) -
A Gateway account
How long is the application process?
Do I need collateral to be considered for this loan and what are the types of collateral that could be used?
If I have been approved for the Internal Cash Secured Loan, how long before I receive the loan money?
There is same day processing and approval, therefore, you should receive your money in a few hours.
Are there any specific application fees relating to the application of this loan?
Investsecure Loan (External)
What is the Investsecure Loan?
How long would I have to repay my Investsecure Loan?
You have a maximum of 10 years to repay this loan.
What is the minimum amount I can receive for the Investsecure Loans?
What is the maximum amount I can receive for the Investsecure Loans?
The maximum amount of money you receive depends on the amount of savings or investments in your external account.
What are the requirements to apply for this loan?
To apply for this loan you need to have a minimum of 5% in shares at Gateway.
What would be the maximum interest rate on the repayment of the Investsecure Loans?
How long is the application process?
What are the requirements for applying for this loan?
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A valid ID -
Tax Registration Number (TRN) -
External proof of funds .
How long before my loan would be approved
There is same day processing and approval.
Do I need collateral when applying for the Investsecure Loan?
Are there any applications fees associated with applying for this loan?
The application fee for the Investsecure loan is 1.5% of the approved loan amount.
Education Loan
What is the Education Loan?
Is it possible for loans to be unsecured?
The Education Loan can be Secured or Unsecured. Our Unsecured Education Loan is offered to part-time students who have been employed for at least a year.
What is the maximum amount I can receive for the Student Loan?
What is the minimum amount I can receive for the Education Loan?
What are the requirements for applying for the Student Loan (Secured)?
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Deposit of 5% of required loan amount in shares
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Acceptance Letter or School Report
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Valid ID (Driver’s License, Passport or National ID)
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Tax Registration Number (TRN)
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Collateral/Security for loan or two Guarantors who are willing to provide tangible security and Passport-size photograph
What are the requirements for applying for the Education Loan (Unsecured)?
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Deposit of 1.5% of required loan amount in shares
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Acceptance Letter/School Report
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Valid ID (Driver’s License, Passport or National ID)
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Tax Registration Number (TRN)
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Passport sized photograph
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Verification of Income (2 months payslips)
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Two months payslips
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Proof of Tuition cost
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Job Letter
The student loan is (secured) therefore what is the interest rate on this loan?
Do I have to be a full time student to apply for the Education loan?
Our Education loans caters to part-time students while our Student Loan is for full-time students.
What is the difference between the Full Time Study Education Loan and the Part Time Study Education Loan?
The Full-time study Education loan (Student Loan) is provided to full-time students whilst the Part-Time Study Education Loan is provided to part-time students who have been employed for at least a year.
Do I need collateral to apply for the Student Loan?
What needs to be done for the application process?
Are there any application fees associated with applying for the Education loan?
How long is the application process?
What can the Education Loan be used for?
Is there any penalty for missing one month in repayment and what would it be?
Is the maximum value different based on the type of Education Loan (unsecured or secured)?
For the Unsecured Education Loan, the maximum amount is $800,000 and for the Secured Education Loan and Student Loan, the maximum amount is $6,000,000.
Gateway Christmas Loan
What is the Gateway Christmas Loan?
What is the maximum amount that I can get from the Christmas Loan?
Could I receive the money from this loan before December?
Is there a penalty for early repayment?
There is no penalty for early repayment.
How long would I have before I repay the Gateway Christmas Loan?
Is there a penalty for missing one month of payment?
Is there an application fee for the Christmas Loan?
What is the interest rate on the Gateway Christmas Loan?
The interest rate for the Gateway Christmas Loan is 19.99%.
Line of Credit (Easi Loan Secured)
What is the maximum amount of money offered in the Easi-Loan?
What is the minimum amount of money offered in the Easi-Loan?
What are the requirements to apply for this loan?
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Have an active account for at least 12 months
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Fill out a scoring sheet provided by a Gateway representative. The amount you get will be based off this scoring sheet along with your income, debt service ratio and credit history.
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Maintain a minimum of 5% of the approved limit, in your account,as long as the loan is being used
Is there any penalty for missing one month in repayment and what would it be?
How long will the loan application process take?
Are there applications fees for the Easi Loan?
What is the interest rate on the repayment of the Easi-Loan?
Line of Credit (Easi Loan Plus- Unsecured)
What is the maximum amount of money offered in the Easi-Loan plus?
What is the minimum amount of money offered in the Easi-Loan Plus?
What are the requirements to apply for this loan?
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Have an active account for at least 24 months.
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Fill out a scoring sheet provided by a Gateway representative. The amount you get will be based off this scoring sheet along with your income, debt service ratio and credit history.
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Maintain a minimum balance of 5% of your approved limit as long as the loan is being used.
What is the interest rate on the repayment of the Easi-Loan Plus?
Do I need collateral when applying for this loan and if so what collateral is required?
How good does my credit score have to be if I want to apply for this Easi Loan Plus?
To apply for this loan you would need to have an excellent credit score.
Are there applications fees for the Easi Loan Plus?
If I have been approved for the Easi Loan, how long before I receive the loan money?
The Easi Loan Plus provided that all that is required by you is received by us, then the processing time would take 3-5 business days.
Gateway Christmas Partner Plan
What is the Gateway Christmas Partner Plan?
The Gateway Christmas Partner Plan is an interest bearing fixed savings account which allows you to “throw a hand” of at least $1,000 per week for a period of 36, 40, 44 or 48 weeks to help you finance your Christmas expenses.
How do I become a part of the Christmas Partner Plan?
Can I have more than one hands in the Partner Plan?
How long before I would receive my money?
You would receive your money in December before the Christmas period.
What is the minimum hand I can throw for the Christmas Partner plan?
What is the maximum I can throw in this partner plan?
How long does the Christmas partner plan run for?
Can Gateway do Salary Deduction or standing orders to take the money from my account?
What is the maximum amount I can receive for the Gateway Christmas Partner Plan?
For example, if you throw a minimum of $1,000 for 36 weeks, you would receive 36,000 along with ¼ of the $1,000 as bonus. So the total you receive would be $36,250.
The table below shows the interest payout for the Christmas Partner Plan:
If I miss one month payment would I be disqualified from the Gateway Christmas Partner Plan?
The table below shows how many late payments are allowed based on the time period before the plan is ended:
When can the Christmas Partner Plan be started?
Baby On Board Savings
What is a Baby on Board Savings Account?
How does the Baby on Board Saving Plan work?
What are the benefits of Baby on Board Savings Plan?
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FREE Life Savings Insurance
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FREE Loan Protection Insurance
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FREE Decreasing Term Life Insurance
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The discipline of saving
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Money available when you need it the most
What is the minimum opening balance required to start up this account?
Can I withdraw at any time?
The money from the Baby on Board Savings Plan can only be withdrawn from the account after at least 10 years.
Can I deposit at any time?
What are the requirements necessary to open a Baby on Board Savings account?
Is the account interest bearing?
The Baby on Board Interest Savings Plan is interest bearing and is between 3-5% depending on how long you are saving for.
Can I open multiple Baby on Board Savings Accounts?
Fixed Deposits
What is the Fixed Deposit Savings Plan?
When is the earliest that I would be able to withdraw money from the account?
What is the minimum opening balance required to open this Fixed Deposit Savings Account?
Could this account be used as collateral for loan at Gateway?
What is the interest rate for this account?
The interest rate ranges from 0.5% to 3.5%, depending on the amount in your fixed deposit account.
Am I taxed on the interest amount I receive from this account?
Could I have more than one fixed deposit accounts?
Will it cost me to transfer money from my fixed deposit account to another account?
Golden Harvest
What is the Golden Harvest and how does it work?
What is the minimum opening balance that is needed to open the Golden Harvest Account?
What is the the interest rate for the Golden Harvest plan
What are the requirements for opening a Golden Harvest Account?
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Must be a Gateway member between the ages of 15 and 65
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Have a savings goal and a time frame in which you would like to reach your goal
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Sign a contract with your Golden Harvest Savings Plan provider to make regular deposits of a set amount
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Answer a simple medical question to determine your eligibility for coverage
What is the maximum amount of money my beneficiaries would be able to get from this Golden Harvest Account?
Your beneficiaries can receive up to $4,000,000 from the Golden Harvest Account.
What are the benefits of the Golden Harvest Plan?
In the event you pass away or become permanently disabled, Gateway will pay the total savings,plus insurance benefits (which equals your savings goal) to you or your beneficiary.
What happens if I make late payments to this plan?
If you miss 3 payment dates you will automatically be closed from the Golden Harvest Plan.
How would it be decided on how much I have to pay every month?
Ordinary Savings
What is the minimum balance required for this account?
Are there penalties on withdrawals from this account?
What is the minimum opening balance required to open this account?
Does the account pay me interest?
Are there withdrawal fees associated with this account?
Yes, there are withdrawal fees associated with this account.
Will it cost me to transfer money to another account?
It will not cost you anything to transfer money to another account.
How many monthly transactions are included in this account?
Permanent Share
What is the minimum opening balance required for this account?
There is a minimum balance of $2000.00 required to open this account.
What is the minimum balance that must always be in the account?
What are the requirements for opening up the permanent shares?
Will I be allowed to withdraw from the Permanent Shares?
How will I be able to redeem my permanent shares?
The permanent shares are only redeemable if you end your membership with Gateway.
Will interest be paid on my Permanent Shares?
Interest will not be paid on the Permanent Shares Account.
What are the benefits of having a permanent shares account?
Could my permanent shares be used as collateral for loan?
Smart Partner Plan
What is the Smart Partner Plan?
What is the minimum opening balance that is needed to open the Smart Partner Plan?
What are the requirements for opening a Smart Partner Plan?
What is the maximum amount of money I would be able to get from the Smart Partner Plan?
Are there any banker fees?
When would withdrawal take place?
Withdrawal takes place at the plan’s maturity (12,16, 24, 36 or 48 weeks).
What happens if I make late payments to this plan?
If you miss a payment then you will be disqualified for the Smart Partner Plan bonus. Here is a list of the amount of late payments that are allowed for each saving period before the plan is canceled:
Solid Saver
How does the Solid Saver work?
What is the minimum I can start with for the Solid Saver Plan?
There is a minimum opening balance of $2000 needed to start the Solid Savers Plan.
What are the requirements for opening a Solid Saver Plan?
When would I be able to withdraw my money?
Yes, you will be able to withdraw money from this account at any time.
Are there penalties on withdrawing my money?
How often would I have deposit money in the account?
What is the interest rate?
Treasure Chest
What is the Treasure Chest?
Would I be able to withdraw money from the Treasure Chest at any time?
You are able to withdraw from the Treasure Chest at any time.
What is the minimum balance that is needed to open the Treasure Chest?
Is interest given on this account?
Is there an age limit for the Treasure Chest Account?
What are the requirements to open a Treasure Chest?
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Copy of Parent’s ID
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Minimum opening balance of $500
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Copy of Birth Certificate
How frequently would I have to deposit money?
Voluntary Shares
How does the voluntary shares account work?
What are the requirements for obtaining the voluntary shares account?
How often would I be able to make deposits to this account?
At what point would I be able to withdraw from this account?
What is the minimum balance required to open this account?
Insurance (Family Indemnity Plan)
What is the Family Indemnity Plan?
What are the requirements necessary to qualify for the Family Indemnity Plan?
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The enrollment form ( Completed)
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Copy of Your Birth Certificate or Passport
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Verification of the ages and relationships of your beneficiaries
What are the various types of plans available?
Is there medical required for the indemnity plan?
How long is the process of getting approval for the family indemnity plan?
How long after opening a family indemnity plan would I be able to file for a claim?
There is a six months waiting period from the effective date of the death certificate, during which only claims arising from accidental death will be paid.
Who can be covered under the Family Indemnity Plan?
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Your spouse/significant other or any combination of up to two persons from your parents or parents-in-law (these persons must be enrolled before the age of 76)
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Your children (including dependent children under your legal guardianship, under 25 who are not married).
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Children who are permanently disabled are covered for the duration of their lives once they are enrolled before age 26.
Can I have multiple family indemnity plans at Gateway?
What would I have to pay monthly for this plan?
What are the benefits of having a Family Indemnity Plan?
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One monthly premium covers final expenses for you and up to five eligible family members
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No medical examination required
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You are eligible to receive the full individual benefit (per person) if valid claims are made
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You get lifetime insurance coverage once you enroll before the age of 76
Can the Family Indemnity Plan be canceled at anytime?
What would be the process of making a claim for the Family Indemnity Plan?
Can the Family Indemnity Plan insurance be terminated by Gateway?
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You withdraw from the plan.
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You discontinue your Gateway membership
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Your premium payments are 31 days overdue
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Insurance for unmarried, living children and dependent children under your legal guardianship will end when they reach age 26 or marry.
Can I change the amount of the coverage on the Family Indemnity Plan once the policy has been issued?
For making a claim..
What is the maximum amount of money I would be able to get from the Family Indemnity Plan?
You can get up to $1,000,000 in coverage with the Family Indemnity Plan.
Family Indemnity Plan: Critical Illness Rider
What is the Critical Illness Rider Insurance offered at Gateway?
What are the requirements to qualify for the Critical Illness Rider Plan?
Is doing medical required for the Critical Illness Rider Insurance?
There is no medical that is required for the Critical Illness Rider Insurance.
How many individuals can be covered on one Critical Illness Rider Plan?
For the Critical Illness Rider Plan, only the insured is covered.
Could I have more than one Critical Illness Rider Plan at Gateway?
What would be the process for making a claim for the Critical Illness Rider Plan?
How much would I have to pay for the Critical Illness Rider Insurance Plan?
What is the payout amount?
What conditions does the Critical Illness Rider Insurance Plan cover?
Can I change the amount of coverage on the Critical Illness Rider Plan once the policy is created?
Yes, the amount of coverage can be changed after the Critical Illness Rider Insurance policy has been created.
Does the type of critical illness affect the amount of money I would be able to receive from the Critical Illness Rider Insurance Plan?
Would I have to pay taxes on the money that I would obtain from the Critical Illness Plan?
Can I cancel the Critical Illness Rider Insurance Plan at anytime?
Yes, you are able to cancel the Critical Illness Rider Insurance Plan at anytime.
What are the benefits of having the Critical Illness Rider?
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You are not required to do a medical when you sign up
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You are entitled to receive a lump sum payment for serious illnesses and medical expenses.
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Your family will receive a refund of your Critical Illness Rider premium payments should you pass away without making a claim before the age of 75
Family Critical Illness Plan
What is the Family Critical Illness Plan offered at Gateway?
The Family Critical Illness Plan provides up to $3,000,000 in critical illness coverage for heart attack, stroke, major burns, cancer, paralysis and coma.
What are the requirements for obtaining the Family Critical Plan?
Is doing medical required for the Family Critical Plan?
There is no medical required to sign up for the Family Critical Plan.
How many individuals can be covered on the Family Critical Plan?
How long is the approval process for the Family Critical Plan?
Could I have more than one Family Critical Plans at Gateway?
You cannot have more than one Family Critical Illness Plan.
What would be the process for making a claim for this plan?
You would have to fill out some forms. A physician would also fill out a claim form to provide proof of critical illness.
Can I cancel this plan at any time?
What is the maximum amount of money I could get from the Family’s Critical Plan?
Will the premium increase due to age?
Can I change the amount of money on the Family Critical Illness once the policy is issued?
Would I have to pay taxes after receiving the money from the Family Critical Insurance?
What are the benefits of having a Family critical Plan?
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You can cover up to 6 eligible family members
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No medical is required
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If no claim is made the insured will receive 50% of paid premium at 75.
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Insured children will receive 50% of the paid premium at age 26 or if they get married.
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Payment for medical expenses and other bills in case of serious illness
Smart Debt
What is the Smart Debt?
What are the requirements for the Smart Debt loan?
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A Valid ID
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Tax Registration Number (TRN)
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Proof of Purpose (Credit card statement, debt statement etc.)
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5% shares with Gateway
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Acceptable collateral (If Secured)
What are the acceptable forms of collateral/security?
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Co-makers account - members of the Credit Union with uncommitted shares/savings
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Motor Vehicle not older than 10 years and comprehensively insured
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Real Estate (Maximum of 85% of current market value)
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70% of the Cash Surrender Value of Life Insurance Policies
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Fixed Deposits - 100% of the principal invested at Gateway and 90% at other institutions
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Savings at other financial institutions
What are the benefits of doing the smart debt loan?
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Rebuilding your credit rating
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Making one low monthly payment
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Consolidate for all your high interest rate loans
What is the maximum amount of money I can get from the Smart Debt Loan?
What is the maximum amount of time given to an individual to repay the smart debt loan?
What is the interest rate for the Smart Debt Loan?
Hurricane Loan Special
What is the Hurricane Loan Special?
What is the interest rate on the Hurricane Loan Special ?
What are the requirements for getting this loan special?
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Must be a Gateway member
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You must be in a stable job position for at least 1 year. If you are self employed then you may be considered if you have an excellent internal credit history with Gateway.
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Taking the loan is only for hurricane preparedness which includes, but is not limited to: purchasing of generators, storm shutters, garage doors, re-roofing or roof-reinforcement, plyboards, storage tank, or clearing of property
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Invoices for items to be purchased must be presented and payments made to institutions where necessary or applicable
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$10,000 in shares at Gateway
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Acceptable collateral (secured loan only)
What are the repayment options for the Hurricane Loan Special?
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Salary Deduction (the preferred method of payment)
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Over the counter or standing order will be allowed for members with excellent credit history externally or internally.
If I take the Hurricane Loan Special on a secured basis, what would be the interest rate?
If I take the Hurricane Loan Special on an unsecured basis, what would be the interest rate?
The interest rate for the Unsecured Hurricane Loan ranges from 13.5%-22% based on your credit risk assessment.
Closing Reply - Any more concerns?