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NHT partners with credit unions for home microfinance loan programme

The National Housing Trust (NHT) has partnered with credit unions to set up a Housing Microfinance Loan Programme for contributors earning $30,000 weekly or less.
      
These contributors will be able to access credit of up to $1.5 million, to help meet their respective housing needs. 
     
The first agreement under the partnership was signed on Friday June 30, with the Community and Workers of Jamaica Cooperative Credit Union (C&WJ). 
     
Agreements with other credit unions are to follow. 
    
Under the partnership, funds will be made available for on-lending to current and new contributors to repair or improve their existing homes or build their own homes. 
     
Contributors will be able to borrow a maximum of $850,000 at any one point, and up to $1.5 million.
     
With interest rates of six per cent for secured loans and nine per cent for unsecured loans, the programme represents the most competitive microfinance rates on the market. 


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