Lending Rates

LAST UPDATED JULY 14th 2017
 
Current V.P. Credit Union PRIME Lending Rate:       2.95% 

Fully Secured Loans

Security Rate Conditions
Shares, Plan 24, Special Savings Prime + 0.75 % Maximum Term 5 Years
Term Deposits (Minimum Rate) Prime + 0.75 %  
CSB’s & Life Insurance Equity Prime + 0.75 %  
RRSP's Prime Maximum Term 1 Year
RRSP's this loan is for the RRSP buyback option Prime  +1% Over one year
     

Personal Loans

  Over $5,000.00 Under $5,000.00
Type of Security Variable Rate Fixed Rate Variable Rate Amortization
Unconventional Financing Prime + 5.00 % 10.00 % Prime + 7.00 % 5 Years Max.
Unsecured or Partially Secured  
** Founders Club < .50%
Prime + 4.00 % 8.00 % Prime + 5.00 % 5 Years Max.
Secured by Chattel Prime + 3.00 % 7.00 %> Prime + 5.00 % 5 Years Max.
Secured by Chattel:          
New Vehicle less than 2 years old and over $30,000.00
Prime + 1.00 % 6.00 % N/A 7 Years Max.

Lines of Credit

All lines of Credit are based on VPCU’s Prime Lending Rate which is subject to weekly change.

Line of Credit Rate of Interest Line of Credit Rate of Interest
Under $5,000.00 Prime + 5.00 % Secured
(Real Estate)
Prime + 0.50 %
Between $5,000.00 & $30,000.00 For rates of interest see branch for details
Property & Cash secured
Lines of Credit
Prime + 0.50 % Unauthorized Overdraft Rate Flat 16.75 %

Residential Mortgages

Term Rate
First Fixed - 1 Year 2.75 %
First Fixed - 2 Years 2.75 %
First Fixed - 3 Years 2.75 %
First Fixed - 4 Years 2.95 %
First Fixed - 5 Years 2.79 %
Interest Penalties May Apply ( 15 and 15 Plan Penalty Free)
   
Other Products Available  
Construction - 6 Months or Variable Prime + 2.00 %
Open 1 Year 6.25 %
Variable Flex Rate Mortgage. Contact the branch for details. Prime - 0.50 %
   
Second Mortgage  
1 Year Term

7.25 %

* Open - No Penalty for Prepayment  

* Rates are subject to change without notice at any time. Offer may change or be withdrawn at any time without notice. Other conditions and restrictions apply. All applicants must meet the VPCU lending criteria. Other conditions and restrictions apply. Products and their features may change at any time. Variable interest rates may change at any time. This is a general description only. For more information and product terms and conditions, consult our lending Department at 604 683 2434*