At some point, we all need a personal loan to help us purchase that new car, finance that dream vacation, maximize your RRSP contributions or consolidate credit card debt. We also help set up budgets so you can achieve your personal goals. Use our financial calculator to see your interest costs and how long the loan will take to repay. Come in and talk to one of our lending personnel and see what we can make happen, together!!
LINE OF CREDIT
At Bruno Credit Union we offer line of credits that attach to your chequing account. For example, if you have a $1500.00 line of credit, that means that you have authorization to use your chequing account for an additional $1500.00 above the monies that you have on deposit in that account. You only pay interest on the amount you use and for as many days as you use it. Once the line of credit is approved, there is no need to call, it’s always available for you to use. Your line of credit is convenient to use when you have unexpected expenses or when that cheque is in the mail but takes a couple extra days to arrive!!!
RRSP LOAN
We offer RRSP loans as low as prime rate if the investment stays with the Bruno Credit Union. An RRSP loan can have up to a five year repayment.
To check what amount you are eligible to contribute to an RRSP, check the assessment you receive from Revenue Canada about 1 month after you file your income tax or phone 1-800-667-3784 and speak with Revenue Canada representative and they will tell you about your limit.
An RRSP loan is a disciplined way of saving for your retirement days. Please use our calculator to see what your deposit today will be in 10, 20 or 30 years from now!!
EDUCATION LOANS
When it comes to education loans, not everyone can qualify for a government student loan. Usually we require a guarantor on these loans but we are flexible in setting up repayment schedules to reflect what can work in your lifestyle. Rates on these loans will depend on amount borrowed and security used.
RESIDENTIAL LOANS
Everyone needs somewhere to live and if you are planning to purchase your first home, recreational property, investment property or planning renovations; We are here to help you meet your goals! We offer conventional mortgage loans that require a 20% down payment. As well we offer mortgage loans that are insured by Canada Mortgage and Housing Corporation that can qualify for no down payment. Certain criteria must be followed. All mortgages can have a floating or fixed rate. We can offer flexible payment plans that include a tax portion so you don’t have to be worried about paying property taxes at the end of the year.