As the situation around novel coronavirus (COVID-19) continues to unfold globally, including our region, we have established a working team to monitor covid-19 developments, routinely assess our level of readiness and to communicate with all of our partners. We’re doing everything we can to ensure your safety while providing you with options to continue to access our services.

The Credit Union will also share updates via the following digital platforms:

Website: www.publicworkers.bb

Facebook: @Barbados Public Workers’ Co-operative Credit Union

Instagram: @bpwccul

 

 

Important Notice

 

The Barbados Public Co-operative Credit Union wishes to advise that as a measure of safety, all persons will be required to wear protective face coverings or masks and will be subject to temperature checks on entry into our branches.

Persons may be asked to temporarily remove face coverings for identification purposes to transact business.

You are reminded that social distancing requirements remain in effect. Please follow the directions from our staff and security personnel.

We thank you for your cooperation and continued support and encourage you to take the necessary protocols to stay safe during these times!

COVID-19 Response

All related notices and services can be found here.

or email: contact@bpwccul.bb

  • Important Notice to our members

    Dear Member,

     

    As the situation around novel coronavirus (COVID-19) continues to unfold globally, including our region, we have established a working team to monitor covid-19 developments, routinely assess our level of readiness and to communicate with all of our partners. We’re doing everything we can to ensure your safety while providing you with options to continue to access our services.

     

    For Your Safety

     

    The safety of our members, staff and visitors to our various locations remains our highest priority. In response to the spread of coronavirus, we have ramped-up our cleaning and sanitization protocols including:

    • Increasing the frequency of cleaning especially in our high traffic areas (including ATMs, Reception Areas, Teller Stations, elevators, door handles, bathrooms),
    • Increasing the deployment of antibacterial hand sanitizers, sprays and wipes,
    • Asking team members who are either showing symptoms or sick to disclose and refrain from coming in to work, and
    • Establishing protocols with persons who supply goods and in-branch services to us to ensure that they too are maintaining the highest standards in relation to their own safety protocols.

     

    Your Service Options

     

    In line with safety guidelines issued to minimize potential contaminations we remain committed to making our alternative non-branch services accessible during this time and take this opportunity to remind you of the options available to you.

    • Co-Optima ATM – Deposit (on full service machines), Withdraw and Transfer funds within your account as well as Check Balances.
    • Co-Optima Connect Online Banking - Check Balances and Transfer Funds within your account and to other members
    • Co-Optima Mobile - Check Balances and Transfer Funds within your account and to other members
    • Co-Optima Voice Telephone banking – Check balances and transfer funds within your account
    • Co-Optima Contact – Member Service Contact Centre: 622-9000 or contact@bpwccul.bb

    Loan application forms remain downloadable online at https://publicworkers.bb/forms.html#forms-loans and we will continue to take loan application drop-offs at all branches.

    As always, we thank you for your support over the years and want you to rest assured that we’re doing everything in our power to maintain a safe and healthy environment for all.

     

    Sincerely,

    Your Team at BPWCCUL

Loan Moratorium

 

Available Moratorium Options:

 

  • Payments for all loans will be deferred for three (3) months.
  • Debt consolidation is available for members who may need assistance for a longer term.

 

Terms

 

  • Though no payments will be due during the payment deferral period, interest on your loan will continue to accrue and will be payable at a later point in the loan’s cycle.
  • There will be no late fees or penalties for those whose payments are being temporarily deferred.
  • Members must be in good standing and loan(s) must be no greater that 60 days delinquent to be eligible.

If you are able to continue to make your regular loan payments, please continue to do so.

 

How to Apply For Moratorium:

 

Please note that the Moratorium process is not automatic. To be considered, members are asked to submit documentation as follows:

 

  • Two forms of valid Government issued photo I.D
  • National I.D (Mandatory)
  • Passport or Drivers’ License

  • Proof of Address in form of Bank Statement or Utility Bill in your name dated no older than three (3) months.

 

The safety of our members is paramount to us and we therefore are providing online channels for this process. A member of our team will contact you.

 

  • Online Submission - Complete the online Loan Moratorium request form.
  • Email Submission – Email Loan Moratorium request to wecanhelp@bpwccul.bb with the required documentation attached.

 

 

  • Loan Moratorium FAQs

    What is a Loan Moratorium?

    • A moratorium is the temporary suspension of loan payments where the member is not obligated to make a payment, often during financial hardships.

     

    What are the Moratorium options being offered?

    • Deferral of 3 months loan payments, including principal and interest payments with a possibility of an extension for a further 3 months. Payments are still optional during this period.
    • Debt consolidation is available for members who may need assistance for a longer term.

     

    Will the interest on my loan also be deferred?

    • Interest on loans will continue to accrue and will be payable at a later point in the loan’s cycle despite deferral of payment, once the moratorium period has ended.

     

    Will late fees or penalties be incurred
    during this period?

    • There will be no late fees or penalties for those whose payments are being temporarily deferred.

     

    Who is eligible for moratorium?

    • All members with loan facilities with the BPWCCUL and are not greater than 60 days delinquent are eligible to apply.

     

    Is the Moratorium process applied automatically?

    • No, waivers/ moratoriums must be requested by the member by way of submitting an application and/or the related documents which will be reviewed by the Credit Union.

     

    How can the Waiver/Moratorium be requested?

     

    Online Submission

    The Waiver/Moratorium Application form is accessible through our website www.publicworkers.bb/we-can-help.html

     

    Email Submission

    The required documentation can be emailed to either of the following address:

     

    What documents are required to apply for the Loan Moratorium?

    • Two forms of valid Government issued photo I.D
    • National I.D (Mandatory)
    • Passport or Drivers’ License

     

    • Proof of Address in form of Bank Statement or Utility Bill in your name dated no older than three (3) months.

     

    If approved, will the Loan Moratorium affect my credit rating/history?

    • No, however, the moratorium request should be made five (5) days prior to the loan payment due date to prevent the loan from falling in delinquent standing.

     

    What is the maximum time of the moratorium?

    • The maximum time period for the Loan Moratorium is three months from the date requested.

     

    Do I have to repay the deferred loan payments and interest?

    • Only the deferred monthly interest MUST be paid. This interest will be due in the following months after the expiry date of the moratorium. At the end of the moratorium period, your regular monthly payments will recommence and your interest will be fulfilled first. Once the interest is repaid, payments will resume being applied towards the principal.

     

    Can I apply for a Moratorium on interest only?

    • The moratorium will be granted for the full loan payment and cannot be granted on interest only. However you may continue to make payments towards the deferred principal and interest once the moratorium has been granted.

     

    Can I apply for the Loan Moratorium if I
    am retiring soon?

     

    • Yes, your retirement date will not hinder you from being eligible for a loan moratorium.

     

    Does the loan moratorium apply to all loan facilities?

    • The loan moratorium applies to all loans in good standing and are 60 days or less in arrears/delinquency. The below loans are not eligible for moratorium:
    • Loans in arrears in excess of (60 days) two months
    • Expired facilities

     

    Will the Credit Union Reverse payments already made?

    • Yes, on condition: This applies only to payments made with the month of the moratorium application or the month when the moratorium was granted.

     

    Can members who booked their loans in March request a moratorium for that month and after?

    • Yes. Members who have received new loan facilities are eligible to apply for loan moratorium.
BPWCCUL COVID-19 Response: Loan Moratorium
Barbados Public Workers’ Co-operative Credit Union Limited (BPWCCUL) logo

Call us: (246) 622-9000

Toll-free 1-866-800-6146

UK Freephone 0808-234-1327

Fax: (246) 437-8745

E-mail: contact@bpwccul.bb

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© Barbados Public Workers’ Co-operative Credit Union Limited