Accelerated Approval and Disbursement (AAD) Loan

When applying for an AAD Loan you must meet the following basic requirements:

• You must be a bona fide member of Eastern Credit Union
• The Loan Amount inclusive of loan fees must be 90% of share value
• The loan can be processed at the branches as well as via the Call Centre
• Loans via the Call Centre are usually disbursed within 48 hours.
  
  

For Loans Processed via the Call Centre

• When collecting your cheque from the Branch Office you must produce a recent salary slip and acceptable identification (generally National ID or National Passport, Birth Certificate, Drivers permit)
• If necessary, you must complete a Deduction Order form that must be stamped by your employer and returned to the Branch.
• Before you access the Loan Proceeds you must sign the AAD Loan Application Form.
  
  

NB: If a required Deduction Order is not stamped by the employer and returned to Eastern's Branch Office within two (2) working days of the proceeds being placed in your Deposit Savings Account, Eastern reserves the right to cancel the loan request. After you have met the above requirements the proceeds will be placed in your Deposit Savings Account or otherwise disbursed according to your request.

The Maximum repayment period for AAD Loans is 48 months.
The Interest Rate is 0.9% per month.