Welcome to Beacon Trust Loan Cooperative. By applying for or accepting a loan from us, you agree to the following terms and conditions:
You agree to repay the loan amount in full, including any applicable interest and fees, by the agreed due dates. Timely repayment is essential to maintaining your good standing with Beacon Trust and to support the cooperative's ability to assist other members.
You commit to being honest and transparent about your financial situation and intentions regarding the loan. Providing accurate information during your application and throughout the loan term enables us to serve you better and helps maintain trust within the cooperative.
The loan proceeds must be used for the intended purpose as stated in your loan application. Misuse of funds may lead to penalties or legal action.
Should you face any difficulties in repaying your loan on time, you agree to notify Beacon Trust promptly. We encourage open communication to explore possible solutions or support arrangements.
Failure to repay by the due date without proper communication and agreement may result in late fees, suspension of cooperative privileges, and potential legal proceedings to recover the owed amounts.
As a member of Beacon Trust, you acknowledge that your commitment to timely repayment and honesty strengthens the cooperative community and helps ensure sustainable financial support for all members.
Beacon Trust reserves the right to update these terms and conditions. Notice of changes will be communicated to members in a timely manner.
By using our loan services, you confirm that you have read, understood, and agree to adhere to these Terms and Conditions.
Last updated: February 12, 2026