Personal Borrowing

Life happens—and we’re here to help. Whether it’s for a new car, home improvements, education, or unexpected expenses, our flexible loan options are designed to fit your needs and budget. With competitive rates, personalized service, and guidance you can trust, we make borrowing simple and stress-free.

CMHC Mortgages

A significant down payment on a home purchase is easier said than done. The Canadian Mortgage and Housing Corporation (CMHC) allows you to purchase a home with as little as 5% down.  If this is the path to your dream of homeownership, we can help.

A CMHC Mortgage offers:

• a loan amount of up to 95% of the appraised value or purchase price*
• 1-5 year term options
• up to 25 year amortization
• fixed or variable repayment options
• competitive interest rates
• prepayment flexibility
• optional insurance coverage to protect your investment

You will need to meet the requirements of the CMHC, however, your mortgage will be processed in-branch by our lending specialists. 

Calculate your Mortgage payment today! 

Knowing how much you can afford could help you to find the perfect home.  Let us help you get information you need, all in one place, using our RCU Mortgage Calculator! 

Mortgage Protection

Protecting yourself is always a good idea when borrowing money.  If things don’t go as planned, loan insurance will take care of your payments for up to 24 months, or paid off in its entirety.

Mortgage Disability Insurance:·

• maximum monthly benefit of $3000 (not to exceed scheduled monthly payment)
• maximum monthly benefit term of 24 months per insured
• age range eligibility of 18-65 years
• no tax on payments
• payments are made regardless of other disability plans
• joint coverage option 

Mortgage Life Insurance (in the case of death):

• maximum benefit of $500,000 (not to exceed the amount of the loan)
• rates based on smoker and non-smoker
• maximum term of 50 years
• age range eligibility of 18-65 years
• no tax on payments
• payments are made regardless of other life insurance plans
• joint coverage option

Loans

Whether you’re looking to buy a new vehicle, reno your home or consolidate debt, we’ve got the loan for you!  Your application is reviewed and approved right here in branch by our lending specialists.

• Competitive rates
• Flexible repayment plans 
• Fixed & variable rate options
• No prepayment penalty
• Optional insurance protection

Quick Loans

If you like the structure of a loan and the flexibility of a line of credit, then a quick loan is the perfect fit! This unique loan offers re-advanceable funds up to an approved limit.  Apply once, receive your approval limit and access your money when you need it.  Better yet – once you’ve paid down the loan, the funds can be re-advanced without having to apply for another loan!

• Competitive rates
• Flexible terms & repayment plans
• No prepayment penalty
• Optional insurance protection

Line of Credit

This cool feature allows you to borrow funds whenever you need them.  Apply once, get approved for a certain amount and it’s yours to access when you need it!

• Competitive rates (lower than your Credit Card!)
• Overdraft protection
• Pay interest only on the funds you use
• No prepayment penalty
• Optional insurance protection