|
All rates subject to
change without notice - Last updated
September 2, 2008
FULLY
SECURED LOANS
|
Security
|
Rate
|
Conditions
|
|
Shares,
Plan 24, Special Savings
|
Prime + .50%
|
Maximum
Term 5 Years
|
|
Term
Deposits (Minimum
Rate)
|
Prime + .50%
|
1.5%
above Deposit pledged.
Maximum Term = Maturity of Deposit
|
|
CSB’s
& Life Insurance Equity
|
Prime + .50%
|
Refer
to Policy Manual for Details
|
|
RRSP's
|
Prime
-1%
|
Maximum Term 1 Year - RRSP must
remain with VPCU
|
|
RRSP's this loan is for the RRSP buyback
option
|
Prime +
1%
|
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 +
3%
|
9.45%
|
Prime +
4%
|
10.45%
|
5 Years Max.
|
|
Secured
by Chattel
|
Prime +
2%
|
8.95%
|
Prime +
3%
|
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: 4.75%
|
|
Line of
Credit
|
Rate of
Interest
|
Line of
Credit
|
Rate of
Interest
|
|
Under
$5,000.00
|
Prime + 4%
|
Secured
(Real Estate)
|
Prime + 1/2%
|
|
Between $5,000.00 &
$15,000.00
|
Prime + 3%
|
100%
VPCU Term Secured
|
Prime + 1/2%
|
|
Between $15,000.00 &
$30,000.00
|
Prime + 1.5%
|
Unauthorized
Overdraft Rate
|
Flat 16.75%
|
|
RESIDENTIAL
MORTGAGES
|
|
Posted Rate
|
Special
Discount Rate
|
|
First
Fixed - 1 Year
|
7.15%
|
5.00%
|
|
First
Fixed - 2 Years
|
7.30%
|
5.30%
|
|
First
Fixed - 3 Years
|
7.40%
|
5.35%
|
|
First
Fixed - 4 Years
|
7.50%
|
5.45%
|
|
First
Fixed - 5 Years
|
7.45%
|
5.45%
|
|
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
|
8.70%
|
|
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
|
1.00%
|
|
$1,000-$2,999
|
1.00%
|
|
$3,000-$9,999
|
1.25%
|
|
$10,000-$49,000
|
1.75%
|
|
$50,000-$99,999
|
2.50%
|
|
Over
$100,000
|
2.75%
|
|
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%
|
|
$U.S.
Chequeable/Savings
|
$00-$1,499
|
.10%
|
|
$1,500-$4,999
|
.25%
|
|
$5,000-$49,999
|
.50%
|
|
Over $50,000
|
2.50%
|
|
TERM
DEPOSITS
|
Terms
|
1 Year
|
2 Year
|
3 Year
|
5 Year
|
|
Locked
In - Minimum $1,000. - Interest paid annually
|
3.25%
|
3.50%
|
3.50%
|
3.75%
|
|
Locked
In - Minimum $1,000.- Interest paid annually Founder’s
Club
|
3.50%
|
3.75%
|
3.75%
|
4.00%
|
|
Locked
In Minimum $10,000. - Interest paid monthly to demand account.
|
3.00%
|
3.25%
|
3.25%
|
N/A
|
|
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.
|
3.00%
|
3.25%
|
3.25%
|
N/A
|
|
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.
|
3.25%
|
3.50%
|
3.50%
|
3.75%
|
|
|
Short Terms - All deposits locked for duration.
|
30 Days
|
90 Days
|
180 Days
|
|
$10,000
minimum
|
2.75%
|
2.75%
|
3.00%
|
|
Gold
Shield (55 Years+) & Founders Club $10,000 minimum
|
3.00%
|
3.00%
|
3.25%
|
|
$1,000
minimum
|
2.00%
|
2.00%
|
2.00%
|
|
|
Special Term Deposits
|
15 Month
|
18 Month
|
|
Locked
In - Interest paid quarterly to demand account or compound
Founder's
Club Special
|
3.50%
3.75%
|
3.75%
4.00%
|
|
REGISTERED
PLANS (no fees of any kind)
|
Terms
|
1
Year
|
2
Year
|
3
Year
|
4 Year
|
5 Year
|
|
RRSP's = Regular
Fixed Terms
|
3.25%
|
3.50%
|
3.50%
|
3.75%
|
3.75%
|
|
RRSP's = Founders'
Club
|
3.50%
|
3.75%
|
3.75%
|
4.00%
|
4.00%
|
|
RRSP Specials
|
2
Month
|
4
Month
|
7 Month
|
15 Month
|
18 Month
|
|
RRSP's = Regular
Specials Minimum $10,000
|
2.75%
|
3.00%
|
3.00%
|
3.50%
|
3.75%
|
|
Founder's Club
Specials
|
NA
|
NA
|
NA
|
3.75%
|
4.00%
|
|
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
2.00%
|
|
|
|
