Lending ServicesPrime Rate 3.25%



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.

What To Expect:

A loan from your Credit Union is quick and convenient to obtain. All loans applications are approved by our qualified lenders. Most approvals occur immediately or within a 48 hour time period.


Mortgages

  • 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.

What To Expect:

A loan from your Credit Union is quick and convenient to obtain. All loans applications are approved by our qualified lenders. Most approvals occur immediately or within a 48 hour time period.


Commercial or Business Loans:

  • Business operating expenses.
  • Business Equipment.
  • Business improvement.
  • Business Capital Investment

What To Expect:

A loan from your Credit Union is quick and convenient to obtain. All loans applications are approved by our qualified lenders. Most approvals occur immediately or within a 48 hour time period.


Agriculture or Farm loans:

  • Farm Equipment.
  • Farm operating expense.
  • Farm improvement

What To Expect:

A loan from your Credit Union is quick and convenient to obtain. All loans applications are approved by our qualified lenders. Most approvals occur immediately or within a 48 hour time period.


Student Loans:

  • Student Loans are available for full-time students attending a university or technical institute.

What To Expect:

A loan from your Credit Union is quick and convenient to obtain. All loans applications are approved by our qualified lenders. Most approvals occur immediately or within a 48 hour time period.


Overdraft Protection:

  • Offers overdraft protection on your Personal Chequing Account. Once your application has been approved, funds are available immediately.

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.

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