Personal Loans

Personal Loans

Pursue your passions with a personal loan!

Personal loans can be used for a variety of reasons:

  • finance major purchases such as appliances, vehicles, vacation properties or recreational equipment,
  • renovate your home,
  • take a well-deserved vacation or purchase a destination wedding, 
  • further your own education, or to pay for your children's,
  • as part of an investment strategy,
  • to cover large unexpected expenses,
  • to consolidate debt, 
  • and more!

We offer a simple application process, competitive interest rates, and convenient and flexible repayment options with the advice you need to achieve your financial goals.  Plus, there is no penalty for pre-payment in part or whole.

Home Equity Loans and Lines of Credit (HELOC) Expand/Collapse

A home equity mortgage allows you to tap in to your home equity!

This alternative allows home owners to borrow against the equity in their home. The equity in your home equals the value of your home less what you owe. You can borrow a portion of the appraised value of your home to finance major purchases or consolidate debt. The advantage of home equity loans is that you can often obtain a lower interest rate because your loan is secured by real property.

You have all the flexible options and choice of a regular personal loan - just at a preferred rate:

  • Express Loan (HELOC) - With an Express Mortgage you can borrow up to 65% of the purchase price or appraised value of your home, not exceeding a total of 80% when combined with a conventional mortgage. Once approved, you can advance as little or as much of the loan as you want, as often as you like with a simple phone call.
  • Term Loan - Borrow up to 80% of your home equity with your choice of amortization period - up to 25 years.

So let's say you're ready to start renovations, you need a new motorhome or you've found your summer cottage at the lake! With a Home Equity Mortgage, you can tap into the equity you have in your home to make it happen.

CU Express Loans Expand/Collapse

Apply once. Use it over and over and over again!

You tell us how much credit you would like to have access to when you apply - and you will always have those funds ready and available for you, whenever you need them! Then you can advance as little or as much of the loan as you want, as often as you like - no need to reapply.  Advancing funds is easy; just give us a call and we will have the funds in your account, when you need them. There is no need to come to the branch or sign any papers to advance funds. It's as simple as that.

You only pay for what you use and at rates usually substantially lower than on a credit card - saving you money! Payments are only calculated on what you use though a minimum payment is required - giving you the flexibility to borrow small amounts with a manageable payment. The Express Loan allows prepayment at any time without penalty.

Now isn't that the most flexible and convenient loan you've ever heard of?

Overdraft Protection Expand/Collapse

Access to funds - quickly, conveniently, automatically!

No one wants to overdraw their account but sometimes life happens - overdraft protection helps protect you from having cheques returned or cards declined due to insufficient funds. Applying for overdraft takes only minutes and it gives you peace of mind that you are protected from overdrawing your account for the occasional cash shortfall.  Overdraft Protection is a one-time-approved ongoing loan that allows you to borrow up to a predetermined limit by simply accessing your chequing account – in fact, it is actually attached to your chequing account.  You only pay interest on the exact amount you borrow and only for the number of days you’ve used it, at rates typically lower than retail credit cards.

 It’s ready cash when you need it – travel emergencies, car repairs or even a great sale!  Or just have it on stand-by for unexpected expenses - now that's peace of mind!

RRSP Loans Expand/Collapse

When you invest in an RSP, you enjoy tax benefits today while securing your financial future. RRSPs are truly one of the most powerful tools for Canadians to save for their retirement.

When you use our RRSP Loan to finance your RRSP purchase, it allows you to:

  • Maximize your RSP contributions for the current year, as well as,
  • Catch up on any RRSP contributions not made in previous years, and
  • Keep your payments management through competitive interest rates paired with repayment terms of up to 10 years.

Plus, you can reduce the amount your loan by applying your tax refund to it. Why don't you talk to one of our Investment Specialist today? They can help you determine if this financial strategy will benefit you!

Student Line Expand/Collapse

The Student Line Loan Program is designed to help students finance their post-secondary education - student lines help cover the cost of tuition, books, living expenses, computers, and more!

  • Available to students attending a recognized post-secondary educational program with a minimum enrolment in full time study of 60%
  • Borrow up to $40,000 - $10,00 is available each per year with proof of enrollment
  • Disburse the funds directly to your AWCCU Financial account as you need them (minimum disbursal amount $500.00)
  • Receive a discounted interest rate on the Student Line Loan Program
  • Interest only payments are required while attending school and the 12 months following completion at which time regular principle and interest repayment of your Student Line loan begins
  • Note: a Guarantor is required in most cases

Term Loans Expand/Collapse

Pursue your passions with a personal loan!

Personal loans can be used for a variety of reasons:

  • finance major purchases such as appliances, vehicles, vacation properties or recreational equipment,
  • renovate your home,
  • take a well-deserved vacation or purchase a destination wedding, 
  • further your own education, or to pay for your children's,
  • as part of an investment strategy,
  • to cover large unexpected expenses,
  • to consolidate debt, 
  • and more!

We offer a simple application process, competitive interest rates, and convenient and flexible repayment options with the advice you need to achieve your financial goals.  Plus, there is no penalty for pre-payment in part or whole.