Loans

Personal Loans

Get credit for your ideas... and choose a payment schedule to suit your budget. Weekly, bi-weekly or monthly payment options allow you to match your payments to your pay schedule. Automatic transfers from your account or payroll deductions are convenient options to make repayment a breeze.

Whether you choose a fixed or variable interest rate, you'll receive the best rate available based on the security provided. Extra payments can be made at any time without penalty and will reduce your interest costs.

Work with our lending professionals to choose the loan that provides the best interest rate and the most practical terms.  You can be pre-approved for your loan. You can shop in confidence knowing the money is available when you are ready to act on your idea.

We can do all the paperwork to pay off your other debts and combine them into one convenient payment.

Plus, our personal loans are specially designed for our young members considering their first major purchase.

XpressLoan

Personal Loans Made Easy!
XpressLoan is the perfect way to fund your dream wedding, future investments or pay off your high interest debts.

Our quick, easy, hassle-free, online application process gets you approved and money into your account instantly!

Apply Online today at www.xpressloan.ca

U.S. Dollar Loans

As part of BorderFree Banking, WFCU Credit Union offers U.S. Dollar Loans, an easy way to pay for larger purchases made in U.S. currency.  Approval is easy and hassle-free!  By borrowing and repaying in U.S. funds, you can avoid fluctuating currency exchange rates.  With a choice of fixed or variable interest rates with flexible repayment schedules, WFCU Credit Union is the better choice for a U.S. Dollar Loan.
Visit a WFCU Credit Union retail location or call the Member Contact Centre at 519-974-3100 to apply today.

RRSP Loans

Don't have the funds available for this year's RRSP contribution? No problem. WFCU Credit Union offers both one-year and two-year RRSP loans that can help!

Take advantage of our great rates. One-year RRSP loans provide a Prime Rate of interest fixed for one year. Our two-year RRSP loans offer a Prime Rate + 1% fixed rate for two years.

There’s no minimum to the amount you can borrow and you’re guaranteed a response to your application within two hours.

Need further piece of mind? Our RRSP loans also offer the convenience of optional creditor's life and disability insurance at competitive rates.

Maximum RRSP Loans

RRSPs are the best way to save for your retirement and save on your taxes at the same time.

To take advantage of all your RRSP contributions, even any unused contribution since 1991, WFCU Credit Union has introduced the Maximum RRSP Loan.

With our Maximum RRSP Loan, you can borrow up to $100,000 at a rate of Prime +1/2% and take up to 7 years to repay.

In addition, you can defer payments for 60 days while waiting for your income tax refund.

The longer repayment period means more affordable monthly payments. With all our loans, you can repay all or part of your loan at any time.

It makes sense to take out a Maximum RRSP Loan. For example, with a $25,000 RRSP contribution
 
RRSP Loan Costs           $1,671.79
Based on an interest rate of 4.25% and 36 monthly payments of $740.88
 
RRSP Interest Earned    $1,922.27
Based on a 3 year fixed term RRSP deposit @ 2.50%
 
PLUS, reduce $7,500 on your income tax, based on $300 per $1,000 RSP contribution, assuming a 30% tax bracket.

Apply for a Maximum RRSP Loan now or call the Member Contact Centre at 519-974-3100 during regular business hours.