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Demand Loan
This is short-term,
specific-needs loan – you need money for a specific purpose,
and you’ll be able to pay all of it back within six months.
If, for some reason, you’re unable to meet the arranged payment
date, you can convert to a regular payment schedule.
Interest
is variable, and is calculated monthly (based on the Consumer
Loan Target Rate).
Bridge Loan
Bridge loans are the
same as Personal Loans, but there are unique terms that
apply. They have a variable rate, and a maximum amount of
$300,000.
Strike Loan
If your union goes on strike, we can give you a one-time personal
loan of up to $5,000. In order to be eligible, you have to
meet these conditions:
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You have to have had a chequing
account, with direct pay deposit, with the Credit Union
before the strike started. |
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As with all loans you have
to qualify. This decision is based on your debt compared
to your income (prior to the strike), your credit rating
and your ability to offer any security (property, wage
assignment, etc). |
HOMEFUND
This is a flexible, line of credit, reverse
mortgage for members who want to use the value of their home
to generate income.
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