The voluntary share account makes you a part owner of JPOL CU; interest is earned twice for the year based on the profitability of the Credit Union. Your capacity to borrow is also dependent on your savings in your voluntary share account.

Interest rate paid on each account per annum is as follows:

• Interest is paid on "Voluntary" share account twice for the year; which is decided at the Annual General Meeting.
• Dividends are paid on "Permanent" share account; which is decided at the Annual General Meeting." Each New member is being reminded that they are given a twelve month period to have a minimum of Two thousand dollars ($2,000) in this account.
  
  

The interest rate charged on loans is dependent on the security type and purpose, and is calculated on the reducing balance method.

Loan to savings ratio use for security loan applications is, up to 10:1 of voluntary shares if you have a minimum of $250,000.00 and 4:1 for voluntary shares balances below the minimum.

This is dependent on the type of loan applied for, the amount and the loan demand. Within Savings loans are disbursed the same day (usually within a few mintues), however, the average time for approval is forty eight(48) hours (providing that all the relevant documents are submitted).

As a Co-maker you are responsible for the entire sum borrowed by the member you are co-making, and not just the amount you use to co-make the loan.Hence, once there is a balance your funds can not be released until the loan balance is within the member's saving or the loan is completely repaid. It is your responsibility as a co-maker to ensure that the loan does not become delinquent.

The Golden Harvest Savings Plan is a flexible medium to long term saving instrument designed to achieve your savings goal, e.g. purchasing a house, a car, travel or vacation, High School or University education for yourself or your children.

• Decide how much you want to save (minimum $1,000.00)
• Set time period to achieve goal (between 1 -10 years)
• Benefit from a fixed interest rate from the beginning to end
• Reducing Balance Insurance assures goal in case of death or permanent disability.
  
  

F.I.P. is the Family Indemnity Plan, an insurance plan that assist with funeral costs for you and your eligible family members who fall in the following categories:

• Your spouse (married or unmarried)
• Any two parents (biological and /or parents-in-law) who have not yet attained the age of 76 years at the time of enrollment.
• Children between the ages of 1 - 26 years.

The Credit Union has fully computerized its operations to include a debit card system; hence passbooks are no longer used. Statements of account are issued on a quarterly basis or upon request of the member.

No. The Credit Union has a bond with the Jamaica Constabulary Force; however it is a financial institution and is not bonded to the rank structure of the J.C.F. Hence each member is treated the same.