Residential mortgage

The right mortgage can make all the difference. We can help with that. Our lending specialists work with you to arrange financial terms that are convenient and truly affordable, so that your home helps you build a comfortable future.

The Vision mortgage advantage:

• Member-centred mortgage applications: We know not every qualified borrower shines on a one-size-fits-all mortgage application. That’s why we take the time to meet with you and understand your complete financial picture.
• Local decision making: All Vision branches have in-house loans officers, so you won’t need to wait for approvals from remote head offices.
• As a credit union, we work for you: That’s why we stretch your mortgage dollar with competitive interest rates and no hidden charges or penalties so that you can be mortgage-free as quickly as possible.
• Financial support: Life throws a curveball at everyone from time to time. We’ll work with you to help get you past it and achieve the best possible financial position.
• A share of the profits: Vision returns profit shares on every dollar of interest paid or earned. That means your mortgage could be putting real money in your pocket to help make that new house a home.
  

Personal line of credit

Get quick access to credit when you need it. A line of credit offers flexibility and easy access at competitive interest rates.

Borrow just what you need and pay interest on the exact amount you borrow for the number of days actually used. Repay a small percentage monthly, or more if you prefer – the flexibility is yours.

Authorized Overdraft account (AOD)

Money in, money out. In real life, sometimes ‘money out’ comes first. That’s when it helps to have a chequing account designed for real life. Get peace of mind with an Authorized Overdraft (AOD) account from Vision. It works like a line of credit attached to your chequing account, providing a revolving source of credit that you top up with your account deposits.

How an AOD works:

• It operates like a regular chequing account. You can write cheques, set up direct deposits and automatic payments, etc.
• When you have a negative balance, you draw on the available AOD credit and pay interest on the amount borrowed while borrowed.
• The credit is revolving, so when you make a deposit, you can use it again.

Home equity line of credit

If you’re like most people, your home is your most valuable asset. Tap into the equity in your home to purchase a second property, refinance your mortgage, make home renovations and more.

A home equity line of credit works just like a regular line of credit, allowing you to draw what you need and pay interest only on the amount you borrow.

Personal loan

Timing is everything in finances. Having the right amount of money at the right time means you can pay for that special something you’ve been dreaming about, cover that something unexpected or just buy a little financial breathing space.

We can help with that.

Make an appointment with a Vision lending specialist today.

RRSP loan

For most people, financial security in retirement means careful long-term planning. RRSP's have become an essential part of this. By contributing to a Vision Credit Union RRSP every year, you can pay less income tax now and build a larger retirement income for the future.

Don't have the cash on hand to contribute to your RRSP?

Take advantage of low interest rates and borrow your contribution. Talk to one of our friendly lenders about the advantages. Make an appointment with a Vision lending specialist today.

Student Select Line of Credit

Our Student Select Line of Credit is a low-interest, revolving source of funding that makes it a little easier to invest in your future. Borrow up to $10,000 per year for each year of full-time studies over four years and make interest-only payments until six months after graduation.

Here’s how it works:

• Revolving credit up to $5,000 per year unsecured credit/ $10,000 per year secured credit to a maximum of $40,000 over four years
• Interest rate: Vision prime rate +1%
• Repayment schedule: interest-only payments while you're in school and for six months after graduation
• Maximum amortization: based on principal after the 6-month grace period
  • Up to $10,000 – 5 years
  • $10,001 to $25,000 – 10 years
  • $25,001 to $40,000 – 15 years