|
All rates
subject to change without notice - Last updated February 24, 2010
FULLY SECURED LOANS
|
Security
|
Rate
|
Conditions
|
|
Shares,
Plan 24, Special Savings
|
Prime +
.75%
|
Maximum
Term 5 Years
|
|
Term
Deposits (Minimum
Rate)
|
Prime +
.75%
|
1.5%
above Deposit pledged.
Maximum Term = Maturity of Deposit
|
|
CSB’s
& Life Insurance Equity
|
Prime +
.75%
|
Refer
to Policy Manual for Details
|
|
RRSP's
|
Prime
|
Maximum Term 1 Year - RRSP must remain with VPCU
|
|
RRSP's this loan is for the RRSP buyback option
|
Prime
+ 1.5%
|
Maximum Term 1 year- RRSP must remain with VPCU and
or invested with Credential Securities
|
|
PERSONAL LOANS
|
|
Over $5,000.00
|
Under
$5,000.00
|
|
|
Type of Security
|
Variable Rate
|
Fixed Rate
|
Variable Rate
|
Fixed Rate
|
Amortization
|
|
Unconventional Financing
|
Prime
+ 5%
|
12.85%
|
Prime
+ 7%
|
14.95%
|
5
Years Max.
|
|
Unsecured
or Partially
Secured
**
Founders Club < .50%
|
Prime
+ 4%
|
9.45%
|
Prime
+ 5%
|
10.45%
|
5 Years
Max.
|
|
Secured
by Chattel
|
Prime
+ 3%
|
8.95%
|
Prime
+ 5%
|
9.95%
|
5 Years
Max.
|
|
Secured by Chattel:
New Vehicle less than 2 years old and over
$30,000.00
|
Prime
+ 1%
|
8.45%
|
NA
|
NA
|
7
Years Max.
|
|
** Founders' Club = ˝%
Rate reduction for unsecured or partially secured loans.
|
|
LINES OF CREDIT
|
All
lines of Credit are based on VPCU’s Prime Lending Rate which is
subject to weekly change.
|
|
Current V.P. Credit Union PRIME Lending
Rate: 2.25%
|
|
Line
of Credit
|
Rate
of Interest
|
Line
of Credit
|
Rate
of Interest
|
|
Under
$5,000.00
|
Prime + 5%
|
Secured
(Real Estate)
|
Prime + .75%
|
|
Between $5,000.00
& $30,000.00
|
For rates
of interest see branch for details
|
|
Property & Cash secured
Lines of Credit
|
Prime +.75
|
Unauthorized
Overdraft Rate
|
Flat 16.75%
|
|
RESIDENTIAL MORTGAGES
|
|
Posted
Rate
|
Special
Discount Rate
|
|
First
Fixed - 1 Year
|
6.50%
|
2.55%
|
|
First
Fixed - 2 Years
|
6.80%
|
3.00%
|
|
First
Fixed - 3 Years
|
6.80%
|
3.45%
|
|
First
Fixed - 4 Years
|
7.00%
|
3.75%
|
|
First
Fixed - 5 Years
|
7.50%
|
3.85%
|
|
Interest Penalties May Apply ( 15 and 15 Plan Penalty
Free)
|
|
|
Other
Products Available
|
|
Construction
- 6
Months
or
Variable
|
Prime
+ 2%
|
|
6
Months Convertible
Locked
in, one time flip option to term or choice
|
7.00%
|
|
Open
1 Year
|
7.25%
|
|
Variable
Flex Rate Mortgage
Cap
is equal to 5 year posted rate
|
Prime
|
|
|
Second
or Third Mortgage:
|
|
1
Year Term
|
9.50%
|
*
Less 1% if VPCU First Mortgage is less than 75%
*
Open - No Penalty for Prepayment
|
|
Demand Deposit
|
Silver Shield
|
Balance
From-To
|
Interest
Rate
|
|
= interest is calculated
on your closing daily balance, paid monthly
Note:
Only at V.P.C.U.
*
Highest rate applies to all of your funds
*
No need to use separate chequing and savings accounts
*
Free cash withdrawals & transfers
* Plus Free
Service Charges with minimum monthly balance of $1,000.00
|
Up to $999
|
.50%
|
|
$1,000-$2,999
|
.50%
|
|
$3,000-$9,999
|
.75%
|
|
$10,000-$49,000
|
.75%
|
|
$50,000-$99,999
|
1.00%
|
|
Over
$100,000
|
1.50%
|
|
Ask up about our Lines of Credit on Chequing
and Silver Shield
|
|
Chequing = Interest calculated
on lowest monthly balance, paid monthly
|
Any Amount
|
.10%
|
|
Plan 24 = interest calculated
on closing daily balance, paid quarterly.
|
Any Amount
|
.50%
|
|
Special Savings = interest
calculated on lowest monthly balance, paid semi- annually. No Service
Charges
|
Any Amount
|
.75%
|
|
TFSA Savings = interest
calculated on your closing daily balance, paid monthly.
|
Any Amount
|
1.50%
|
|
$U.S.
Chequeable/Savings
|
$00-$1,499
|
.10%
|
|
$1,500-$4,999
|
.25%
|
|
$5,000-$49,999
|
.50%
|
|
Over $50,000
|
2.00%
|
|
TERM DEPOSITS
|
Terms
|
1
Year
|
2
Year
|
3
Year
|
5
Year
|
|
Locked
In - Minimum $1,000. - Interest paid annually
|
1.50%
|
2.20%
|
2.50%
|
3.00%
|
|
Locked
In - Minimum $1,000.- Interest paid annually Founder’s
Club
|
1.75%
|
2.45%
|
2.75%
|
3.25%
|
|
Locked
In Minimum $10,000. - Interest paid monthly to demand
account.
|
1.25%
|
1.50%
|
1.75%
|
2.00%
|
|
Withdrawable
Minimum $1,000. - Interest paid annually
Early
redemption at no interest first 29 days, then interest paid at 1.00%
per annum for duration.
|
1.25%
|
1.50%
|
1.75%
|
2.50%
|
|
Withdrawable
Minimum $10,000. - Interest paid monthly to demand account. Gold
Shield Account must be 55 years or over. Early
redemption permitted at no interest for first 29 days, then interest
paid at 1.00% per annum for duration.
|
1.25%
|
1.50%
|
1.75%
|
2.50%
|
|
|
Short Terms -
All deposits locked for duration.
|
30
Days
|
90
Days
|
180
Days
|
|
$10,000
minimum
|
1.00%
|
1.00%
|
1.00%
|
|
Gold
Shield (55 Years+) & Founders Club $10,000 minimum
|
1.00%
|
1.00%
|
1.00%
|
|
$1,000
minimum
|
1.00%
|
1.00%
|
1.00%
|
|
|
Special Term Deposits
|
15
Month
|
18
Month
|
|
Locked
In - Interest paid quarterly to demand account or compound
Founder's
Club Special
|
2.00%
2.25%
|
2.25%
2.50%
|
|
REGISTERED PLANS
|
Terms
|
1
Year
|
2
Year
|
3
Year
|
4
Year
|
5
Year
|
|
RRSP's = Regular
Fixed Terms
|
1.50%
|
2.20%
|
2.50%
|
2.50%
|
3.00%
|
|
RRSP's = Founders'
Club
|
1.75%
|
2.45%
|
2.75%
|
2.75%
|
3.25%
|
|
Tax Free Fixed
Terms
|
1.75%
|
2.45%
|
2.75%
|
NA
|
3.25%
|
|
RRSP Specials
|
2
Month
|
4
Month
|
7
Month
|
15
Month
|
18
Month
|
|
RRSP's = Regular Specials Minimum $10,000
|
1.50%
|
1.50%
|
1.75%
|
2.00%
|
2.25%
|
|
Founder's Club
Specials
|
NA
|
NA
|
NA
|
2.25%
|
2.50%
|
|
Tax Free Fixed Term
Specials
|
NA
|
NA
|
NA
|
2.25%
|
2.50%
|
|
PAYROLL ACCUMULATOR
|
Up
to $500.
|
Up
to $1000.
|
Over
$1000.
|
|
|
|
|
1.00%
|
1.00%
|
2.00%
|
|
|
|
|
|
DEMAND R.R.S.P’s & R.R.I.F’s
1.50%
|
|
|
|
