Personal Lending Rates

Rates effective as of October 3rd, 2020
 
Current V.P. Credit Union PRIME Lending Rate:    2.45%

Fully Secured Loans

Security Rate Conditions
Deposit Secured Prime + 0.50 % 5 Year Maximum Term


RRSP Loans

Type Rate Conditions
RRSP* Starting at Prime + 1% 1 Year Term
RRSP catch up loan*  Starting at Prime  + 2% 3 Year Maximum Term 


Personal Loans & Lines of Credit

All Personal Loans and Line of Credit products are based on VPCU’s Prime Lending Rate which is subject to change.

Please contact us for the latest pricing details.
 

Overdraft Rate

Type Rate
Chequing Account Overdraft or Line of Credit Overdraft** 16.75%


Residential Mortgages

1st Mortgage Rates Posted
    Rates ***
1 Year Open Term 6.45 %
1 Year Fixed Term 2.39 %
2 Year Fixed Term 2.29 %
3 Year Fixed Term 2.19 %
4 Year Fixed Term 2.09 %
5 Year Fixed Term 1.99 %
5 Year Variable Rate Fixed Term Prime - 0.50%
20/20 Pre-payment Options See details
   
Other Products Available Rates
Construction - Contact us for more details From Prime + 3.00%
Prime Line - Mortgage Line of Credit From Prime + 0.50%
   
2nd Mortgage Rates  
Please contact us for more details

 

* RRSP Loan proceeds must remain in a VPCU RRSP investment product until the outstanding loan balance has been paid in full.

** The Overdraft Rate is only applicable when a Demand Account is overdrawn or when a line of credit account exceeds its authorized limit.  

*** Relationship Pricing Offer for Mortgage Rates
VPCU now offers a revised relationship pricing model. Members that obtain some or all of the products or services listed below will be eligible for additional mortgage rate discounts. An additional three basis points (.03%) shall be offered to members that obtain or currently have the following products or services with us:
 
Product Type 1: Collabria Visa Card

Product Type 2: Full Direct deposit payroll / pension

Product Type 3: Line of credit/Primeline / Personal loan

Product Type 4: Term Deposit Investment / QTrade Account / Virtual Wealth Account / Financial Planning Review with our partner company

Product Type 5: A CUMIS Creditor (Mortgage/Loan/Line of Credit) Insurance Product / Insurance Planning Review with our partner company
 
Relationship Pricing example: If your mortgage is due for renewal and you have an existing full payroll/pension deposit with VPCU and you decide to obtain and activate a Collabria Visa credit card with us and also setup a line of credit, you would be eligible for a nine (.09%) basis points off our posted rates because three product types have been obtained in addition to the mortgage.
 
The maximum relationship additional rate discount off our posted rates that is available is 15 basis points or 0.15%. The additional rate discount offer is available during the time of mortgage rate renegotiation only.

Please contact our Lending Department directly for more details at 778-945-9448 or by email at loans@vpcu.com.

Rates and products are subject to change without notice at any time. Other conditions and restrictions may apply. All applicants must meet the standard VPCU lending criteria.