At SFXCU LTD, we believe in empowering your dreams. Our Student Loans are designed to help you achieve your academic goals with ease and flexibility. Whether you're pursuing a degree locally or abroad, we offer competitive interest rates, personalized repayment plans, and fast approvals to get you on the path to success. Let us invest in your future, so you can focus on achieving your full potential. Your education, your journey—funded by your trusted credit union!
Student Loan Program Criteria
SFXCU/BNECT
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: 422-2892 or 422-0075
Sarteneja Branch: 423-2213
San Pedro Branch: 226-2877
Caye Caulker Branch: 226-0284