|
Loans
Proper use of credit can be the key to better living. Credit enables
persons and families to obtain the things they need when they are
required.
Credit can be extremely useful in case of emergency. Use of credit
also may be valuable in allowing savings to be built up steadily
without the interruption of withdrawals to make purchases.
North Valley Credit Union offers a wide range of lending products.
Talk to one of our loans professionals about Personal
Consumer Loans, Commercial or Business
Loans, Agricultural or Farm loans,
Mortgage Loans, Revolving
Credit or Line of Credit, Student Loans,
Security and Interest Rates, Repayment,
Loan Insurance, What To
Bring, What To Expect:
Personal
Consumer Loans:
- They're
available to help you with timely purchases - the things you require
immediately. It may be sound money management to purchase a car,
freezer or home furnishings before you can safely include the
total price in your monthly budget. As well, extra cash may be
needed for a planned vacation.
- Our
consumer loans help you acquire such items now and spread the
cost over a planned repayment period. Consumer loans are available
at a fixed or variable rate.
Top
of Page
Commercial
or Business Loans:
- Business
operating expenses.
- Business
Equipment.
- Business
improvement.
- Business Capital Investment.
Top
of Page
Agriculture
or Farm loans:
- Farm
Equipment.
- Farm
operating expense.
- Farm
improvement.
Top
of Page
Mortgage
Loans:
- Purchase
of new or used housing and leisure homes.
- Construction
of new buildings - either self built or by contract.
- Renovations
or additions to existing structures.
- Construction
under Co-operative Housing Plans.
- Purchase
of farm property.
- Purchase
of commercial property.
At
the North Valley Credit Union, your mortgage is written at a competitive
interest rate. Some mortgage options are:
- 1
year open mortgage.
- 1
to 5 years fixed rate mortgages.
- Fixed
or variable rate mortgages.
We recommend that you contact a Loan Officer to discuss your mortgage
requirements. Mortgages are provided under Conventional and Canada
Mortgage and Housing Corporation plans.
Our Loan Officers will give you personal Service and recommend the
best plan for your individual requirements. They will be pleased
to provide all necessary information as to financial qualifications,
documents required and legal requirements, as well as provide you
with information regarding life insurance coverage on your mortgage.
Top
of Page
Revolving
Credit or Line of Credit:
- Offers
overdraft protection on your Personal Chequing Account. Once your
application has been approved, funds are available immediately.
Top
of Page
Student
Loans:
- Student
Loans are available for full-time students attending a university
or technical institute.
top of page.
Top
of Page
Security
and Interest Rates:
- Loans
may be secured using any of your savings accounts or a wide variety
of personal assets, such as a vehicle, property or other forms
of securities,
- Interest
rates on loans are established from time to time, based on security
provided and the level of interest in general. Rates are competitive
with the market place.
Top
of Page
Repayment:
- Repayments
are normally made in monthly installments.
- Other
arrangements can be made if necessary.
-
Automatic payments can be set up to electronically transfer money
from one of your accounts to your loan.
Top
of Page
Loan
Insurance
Member's
Term Life Insurance
Affordable insurance for your personal or business needs at Group
Rates. Rates are based on age and smoker qualifications and are
extremely competitive. If you are borrowing regularly Member's Term
Life can provide excellent coverage for a very reasonable cost.
A convenient way to cover your loan obligations and provide protection
for your family.
Credit
Disability Insurance
Hurt? Sick? If you ever have been, you would have found out precisely
how little money you end up with on a monthly basis. Normally, worker
compensation and disability plans through work only cover about
70% of your normal wage. Unfortunately, loan payments don't take
a break. Credit Disability insurance is available at low premium
to make your loan payment should you become temporarily or permanently
disabled through sickness or accident. This excellent protection
is non-taxable.
Mortgage
Protection Insurance
Group Mortgage Protection is coverage offering you and your family
worry-free security. It is there to pay off the balance of your
mortgage if you are not.
Credit
Life Insurance
Loan insurance that covers the balance outstanding on your loan
in event of your death. Premiums can be added to your Loan.
Top
of Page
What
To Bring
To qualify for a loan we need to know as much as we can about you.
This not only makes the application for a loan much simpler, but enables
us to help you structure your finances to best suit your needs.
When applying for a loan please don't forget to bring some important
things:
- Yourself,
your spouse, your partner, your parent or co-signor.
- Current
Employment information: where, how long, salary (tax returns)
- Current
Financial picture: investments, vehicles, real estate, loans,
credit cards, and payments.
Top
of Page
What
To Expect:
A loan from your Credit Union is quick and convenient to obtain.
All loans applications are approved by our qualified lenders or
management. Most approvals occur immediately or within a 48 hour
time period. The North Valley Credit Union does not
have a board approval credit committee. Directors on our board play no part in credit decisions. A major
purpose of the Credit Union is to provide credit to Members for
any good purpose at competitive rates. Borrowers receive
loan statements semi-annually.
Top
of Page
All trademarks
are owned by Credit Union Central of Canada and used under license.
HANDS AND GLOBE design is a registered certification
mark owned by the World Council of Credit Unions and used under license.
|
