HEAD OFFICE: #24 Sackville Street, Port of Spain | TELEPHONE: 1 (868) 623 - 7570 / 8118

Frequently Asked Questions

PSCU is offering financial assistance to its members. Here’s what you need to know:

How do I apply for a Moratorium/Deferral/Reduction in Loan payment /Renegotiation of loan terms?
What are the details of PSCU’s loan Moratorium/Deferral/Reduction in Loan payment /Renegotiation of loan terms?
I applied for a moratorium/deferral/reduction in loan payment/renegotiation of loan terms but did not get a response.
Is a fee charged for any of the above request?
What is the maximum maturity date on these facilities?
Do I have to repay the deferred installments and interest accrued?
Is the moratorium deferral applicable to my total deduction assigned to the credit union?
I am retiring within the next 2 months; will I qualify for the deferral offer?
Does the standard deferral apply to all loan facilities?
If I apply for a deferral after the payment has been applied to my loan and interest, would the Credit Union reverse the amount?
Will the moratorium deferral affect my credit history?
Can I extend the term of my loan by 6 months or more?
How do I apply for a Moratorium/Deferral/Reduction in Loan payment /Renegotiation of loan terms?

You will be required to complete and submit the request along with the support documents using one of the following methods:

Online: Click here to complete the request form: https://old.pscutt.com/request-a-deferral/
Upon submission, our staff will reach out to you within 48 hours/2 working days with an update.

Email: Send us an email at any one of the following email addresses. Please enure to mention branch name and deferral request in the subject field.
pos@pscutt.com
arima@pscutt.com
sanfernando@pscutt.com
chaguanas@pscutt.com
tobago@pscutt.com

Telephone: Call your Branch between the hours of 8:00am to 1:00pm

Walk-in: As a last resort, you may visit your nearest branch.

What are the details of PSCU’s loan Moratorium/Deferral/Reduction in Loan payment /Renegotiation of loan terms?
  • The moratorium is a deferral of the loan monthly installment, including principal and interest for a period of no more than three (3) months commencing from the date of approval. However, interest on your loan continues to accrue during that period.
  • Reduction in loan payment means a reduction in your existing loan installment for a period of no more than 3 months commencing from the date of approval. The reduction is calculated based on your reduced salary/income
  • Renegotiation of loan terms means a reduction in your existing loan installment for an extended period and/or the unexpired term of your existing loan.
I applied for a moratorium/deferral/reduction in loan payment/renegotiation of loan terms but did not get a response.
Due to the high volume of requests from our members, there may be some delay in our response time however, please be assured that ALL requests will be reviewed.  Once your request is considered you will be contacted via telephone/email. Requests will be subjected to qualifying criteria
Is a fee charged for any of the above request?
No, the above requests do not have any fees attached.
What is the maximum maturity date on these facilities?
  • Moratorium Deferral/Reduction in loan payment – maximum period is 1-3 months commencing from May 2021. For example; if a request is approved in May then the period will be for May or
    May and June or May, June and July.
  • Renegotiation of loan terms – no maximum maturity date is applicable
Do I have to repay the deferred installments and interest accrued?
  • Yes. The following options are applicable at the end of the period:
    • Moratorium/Deferral: The loan is automatically extended by the loan repayment and extended by an additional 1-3 months where applicable
    • Re-amortized based on the outstanding principal and interest capitalized over the remaining period of the loan
    • Regularized by paying the deferred payments as a lump sum and maintain the installment and existing maturity date
Is the moratorium deferral applicable to my total deduction assigned to the credit union?
No, the moratorium deferral is applicable to loan and interest installment.
Does the standard deferral apply to all loan facilities?
Yes, the standard deferral applies to all loan facilities.
If I apply for a deferral after the payment has been applied to my loan and interest, would the Credit Union reverse the amount?
Your request must be received at least five (5) working days prior to the due date of your salary deduction being received by the Credit Union.  The amount will not be reversed if the request is received thereafter.
Will the moratorium deferral affect my credit history?
No, the moratorium will not affect your credit history.
Can I extend the term of my loan by 6 months or more?
Yes. This is only applicable to a renegotiation of terms request.
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