The Government Employees’ Retirement System (“GERS”) is pleased to announce the second installment of the Limited Personal Loans Program for its active members. 

Beginning July 8, 2024, active GERS members interested in applying for a personal loan can complete an interest form and schedule an appointment online at usvigers.com. Appointments are available until August 2, 2024, or until the funds are exhausted, whichever comes first. Members who are unable to schedule an online appointment are welcome to visit the GERS offices on St. Croix (Orange Grove) and St. Thomas (Waterfront), where they will be assisted by a Customer Service Representative. Please note that your appointment will be confirmed once your eligibility has been verified. 

Limited Personal Loans Program Details 

Funding Allocation: For 2024, $20 million have been allocated for personal loans, with $10 million designated per district. Currently, $3.6 million remain available for the St. Croix district and $4.9 million for the St. Thomas-St. John district. Once these funds are exhausted, no further personal loans will be issued by GERS in Fiscal Year 2024. 

Eligibility: Active members with a minimum of two years of credited service (contributions) to the Government of the Virgin Islands are eligible to apply. Members who received a loan during the first installment are not eligible. 

Loan Amount: Active members can apply for a personal loan of up to $10,000 or 75% of their contributions, whichever is less. The maximum amount allowable for any applicant shall be further reduced by any personal loan principal balance outstanding. The application fee of $50.00 will be deducted from the loan amount. 

Loan Term: The loan term is five (5) years at an 8% interest rate. The payoff date must occur before the active member reaches age 70. 

For more information and updates on the Limited Personal Loans Program, please call our Customer Service office at (340) 693-3939 or visit the GERS website at usvigers.com.