Become a Member

Opening an account with the Mon Repos Credit Union is very easy.

You simply:

  • Complete a membership application form at any one of our three branches
    • Provide two forms of picture I.D
    • 2 Current Utility bills, showing your current address
    • Pay applicable entrance fee of $5.00
    • Purchase 20 permanent shares at $5.00 each
    You will be required to complete a Dual Membership Form if you are already a member of another Credit Union. Membership application forms are available right here on the website under the Forms Section.

Benefits of being A Member

  • Dividends on Permanent Shares: Dividends are paid annually at a rate determined at the Annual General Meeting (AGM), not exceeding the maximum allowed by the Co-operative Laws of St. Lucia. Dividends are computed on the total dividends accumulated for the financial year.
  •  Interest: Interest is paid on Regular Shares and Deposit Accounts semi annually as determined by the Board of Directors.
  • Insurance: 
    1. Life Savings: ensures that members are covered in the event of dismemberment or death. This insurance coverage ensures that members or their family will receive up to double the value of their savings. Coverage is automatic and at no cost to members. The Mon Repos Credit Union provides Life Savings Insurance coverage of up to $40,000.
    2. Loan Protection Insurance: offers members peace of mind by providing financial support in their time of need. Loan Protection Insurance ensures that members’ loans are paid off in the event of dismemberment or death. Coverage is automatic and at no cost to members and no medical examination is required. The Mon Repos Credit Union provides Loan Protection Insurance coverage of up to $90,000.
  • Patronage Refund: Members who have loans are eligible for a refund on the total interest paid for the year.

 

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