Junior College (Associate degree level)

• Be a member of the credit union
• If student is a minor, Parent or Guardian need to apply
• Have at least 5% of loan value in shares which is $350.00
• Letter of acceptance from a recognized institution
• Transcript from High School (GPA be 2.5 or above)
• ID Card (Social Security or Passport) of Student
• Estimated cost of the Degree from the Institution
• One guarantor is need to apply for the loan
• Recommendation letter from Guarantor(if Guarantor is a Cane Farmer need to present recommendation letter from their respective Association; if self employed a letter stating type of job and earnings per month)
• ID Card of Guarantor (Social Security/Passport)
• Loans granted up to $7,000
• Show ability to cover 20% contribution and interest monthly
• Up to 3 years to repay the loan, exclusive of grace period
• Six months grace period, after graduation for commencement of payment
• Loan disbursement will be made on a semester basis
• Interest payable monthly, on outstanding balance
• When applying for the loan Student, Parent or Guardian, and Guarantor must be present
• By appointments only

University (Bachelor degree level)

• Be a member of the Credit Union
• Have at least 5% of loan value in shares which is $1000.00
• Letter of acceptance from a recognized institution
• Transcript from Six Form Institution (GPA must be 2.5 or above)
• ID Card (Social Security or Passport)of Student
• Detailed estimate of fees
• Two Guarantors are need to apply for the loan
• ID Card from Guarantors (Social Security/Passport)
• Recommendation letter from Guarantor(if Guarantor is a Cane Farmer need to present recommendation letter from their respective Association; if self employed a letter stating kind of job and earnings per month)
• Guarantors should have repayment capacity
• Loans granted up to $20,000
• One guarantor for every $10,000  (guarantor must have repayment capacity)
• Show ability to cover 20% contribution and interest monthly
• Up to 5 years to repay the loan, exclusive of grace period
• Six months grace period, after graduation for commencement of payment
• Loan disbursement will be made on a semester basis
• Interest payable monthly, on outstanding balance
• When applying for the loan Student, Parent or Guardian, and Guarantor must be present
• By appointments only

During implementation the following need to be observed for all levels:

• Must furnish progress report at the end of each semester prior to further disbursement
• Must provide receipts to justify disbursed amount
• Must be making monthly payments or the loan disbursement will be discontinued
• Must inform and obtain clearance from SFXCU of any intention to divert from initial field of study
• Must inform SFXCU of any intention to further studies whilst still under loan obligation with SFXCU
• Must not change educational institution without permission from SFXCU
• Upon graduation SFXCU will grant 6 months grace period prior to the commencement of principal repayment
• Maximum loan term is 5 years
• Must present copy of any previous certificate(s)

For any more information call at any of our Branches of Saint Francis Xavier Credit Union Ltd.

Main Office: 480-2892 or 480-0075

Sarteneja Branch: 480-2213

San Pedro Branch: 280-2877

Caye Caulker Branch: 226-0284