We present a list of common questions we receive about our credit union and why we’re the best option for anyone seeking a place to call their financial home. Click the question you’re interested in asking from the list provided.

If none of the questions are what you’re interested in finding out, please contact us and we will be more than happy to assist.

What is a Credit Union?

A credit union is a cooperative, member-owned, non-profit financial institution organized to promote thrift. It is controlled through a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.

Who can join VENTURE Credit Union?

Members are from the general public.

What are the benefits of joining VENTURE Credit Union?

The main benefits include:

1. Over 50 years of Credit Union experience
2. History of above average dividends
3. Competitive Interest Rates on Loan and Deposits
4. Free Financial Counselling
5. Family Indemnity Plan
6. Insurance on Loans and Savings
7. International VISA Debit Card
8. Salary Deductions
9. Standing Order Payments to external agencies
10. Partnering with member to build and preserve personal wealth
11. Bringing service to the company to minimize time off

How do I join VENTURE Credit Union?

To join VENTURE you need to fill out our Membership Application Form. You need to submit your membership application form with the following documents:

1. Letter of Employment/Pension/Other Income or last financial statement
2. Two recent passport size photographs
3. Evidence verifying residence e.g. copy of paid utility bills such as water, electricity and/or telephone
4. Any two of the following: Valid Passport, T&T Identification Card, Driver’s License, Birth Certificate

Why join VENTURE over any other financial institution?

1. We have an above average dividend rate. One of the highest in the country compared to other financial institutions
2. We strive for exceptional customer service
3. We put our members first
4. We have competitive interest rates on loans
5. Same day loan approval
6. We are a stable and growing company
7. We stand by the watchwords Strength, Safety, and Unity

Why take a loan at VENTURE rather than the bank?

You cannot get back your loan deposit from a bank. Let’s say you need $20,000 to borrow money from a bank once you make that deposit, that $20,000.00 is gone. Comparably, when you make a similar loan deposit with VENTURE, it goes to your shares and you still benefit from your dividends. You can use your dividends to make payments toward your loan. When you clear all of your loan payments you still have the money in your shares. This produces a win-win scenario for everyone who borrows a loan from VENTURE Credit Union. You win by getting the money you need to achieve your goals and you win by keeping your investment alive and maturing.

Unlike the bank, we have a fixed interest rates on our loans.

Why invest in VENTURE Credit Union?

1. We have been in existence for over 50 years.
2. We have a strong asset base from the Point Lisas Industrial Estate.
3. Our governance is transparent. Our financial accounts are displayed at all of our offices so you can keep abreast of all financial activities within the Credit Union.