Products & Services

Innovation Repeated for Guaranteed Success

Being the first registered Credit Union in The Bahamas does not make us old, but experienced.

Experienced in being agile and responsive at giving you the flexibility and power you need towards short and long term goals. Let us help you, optimize your day to day or future with numerous options of great plans and low rates we're sure to serve you in the highest capacity.

Personal Banking

Deposit Account

This is a regular savings account. You have free access to the balance of this account and may use this account for salary deposit or any other saving purpose.

Share Savings Account

This account is the anchor account for the Credit Union, and as that it is mandatory that you deposit a minimum of $20.00 per week or $80.00 per month. This account can be used as a retirement account as you are discouraged from making withdrawals from this account except under extreme circumstances. This account can also be used as the collateral account for consumer loans. Interest is paid on this account at 1.5-2.5 percent per annum depending on the balance of the account. Based on the 2016 Special Call Meeting qualifying shares is now $200, therefore all members should seek to be compliant.

Term Deposits

We offer competitive rates on our term deposits. As our share savings rate is equivalent to short term deposit rates at other financial institutions, our term deposits are for a minimum duration of 1 year.

Balance Range	Term	Interest Rate
$1,000.00 - $100,000.00	1 year	1.50%
$1,000.00 - $100,000.00	2 years	1.75%
$1,000.00 - $100,000.00	3 years	2.00%
$1,000.00 - $100,000.00	4 years	2.25%
$1,000.00 - $100,000.00	5 years +	2.50%

Christmas Savings Account

Many of us are faced with having to purchase gifts for our loved ones during the festive season. Our Christmas Savings allows our members to save for the purchase of these gifts as opposed to waiting for last minute and having to apply for small consumer loans or incurring credit card debt.

Educational Savings Account

Education Savings Accounts are designed to assist members preparing for your children or a designated child college expenses. A child must be named for this account and must not be over the age of 18 years old. Interest on this account is paid at 3.50% per annum.

Back to School Account

The purpose of this account is to aide members in preparing for school fees and associated expenses that are due at the beginning of each semester/term.

Home Savings Account

This account is specifically designed to assist members in saving for acquisition of a home. Saving for a home stays simple.

Loan Programs

Auto

Year of Auto Mobile	Required Down Payment*	Term of Loan*
Current Year	20%	Six (6) Years
One (1) Year Old	25%	Five (5) Years
Two (2) Years Old	30%	Four (4) Years
Three (3) Years Old	35%	Three (3) Years
Four (4) Years Old	40%	Two (2) Years
Five (5) Years and Older	50%	One (1) Year

*Subject to change/vary at the discretion of the Board of Directors under special Circumstances and promotions.

Consumer

We offer competitive rates on consumer loans for a variety of consumer purchases and/or services. Our rates range from 8 to 14%.

Computer

National Workers realize that a computer is an essential part of everyday life and is therefore committed to ensuring that all of its members have a personal computer in their home. Hence we will finance the purchase of a home computer system up to fifteen hundred dollars with no equity injection as long as salary deduction can be established from an approved employer and our other lending requirements are met. This account is also used as a new membership drive tool.

Small Business

In living with the theme of Cooperatives "People Helping People Program" and our mission of empowering our membership we heard the cry of our people and now seek to answer by providing small business loans to assist in the start up or capitalization of business ventures.

Other Programs

Online Banking

Credit/Debit Cards

Take it everywhere with convenience for convenience. Purchasing never was so easy. Sign Up Today!

Real Estate Investment

National Workers Cooperative Credit Union has acquired fifteen lots in the Nassau Village area and has already started the development of these lots to include multifamily homes. With the exception of two we have arranged for these homes to be built turn key. Our intent is to reinvest the funds once the properties have been sold to purchase additional properties and continue this program.

Standing Orders

Standing Orders are set up for consistent payments. Members monthly mortgage payments for example, once the funds are in your account, automatic payment is ensured.

Financial Counseling

This is a free service to our members. NWCCU would assist in preparing a plan for debt reduction or a savings plan for special projects such as home acquisition or other investment.

Mobile Banking

Banking just got a little bit easier. Longs lines no more, we now can come to you. Mobile Banking the new way to bank!