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UNFCU Unsecured Local Staff Loan and my contract is not renewed or expires

Posted: 25 Sep 2020, 19:48
by kadingo
If I get a UNFCU Unsecured Local Staff Loan and my contract is not renewed or expires when I have just repaid half of it or less, what happens? Would my pension be safe or it’s what UN FCU will attach?

Re: UNFCU Unsecured Local Staff Loan and my contract is not renewed or expires

Posted: 26 Sep 2020, 10:22
by Papa
Hey Kadingo,
Before they advance you a loan they ask for some documents. One of them is the contract you have with the UN. They structure the loan according to the length of your contract. But again its always good to clear the loan before your contract expires. Since the money belongs to members. I have a colleague who failed to surrender a UN issued Laptop after lapse of his contract. The resettlement allowance after the contract lapsed was withheld.

Re: UNFCU Unsecured Local Staff Loan and my contract is not renewed or expires

Posted: 27 Sep 2020, 03:46
by kadingo
They don't always structure the loan according to the length of your contract almost in all cases. The repayment period will always go far past the length you your contract. If one's contract is not renewed in the middle of the repayment period, i don't know how an "Unsecured Local Staff Loan" is handled. They don't give much information about such a situation either.

Also, your colleague refusing to surrender a UN issued Laptop after lapse of his contract was very weird, just a Laptop :)