Niverville Credit Union offers a variety of loans to help you attain your goals.

Niverville CU loan payments are designed to suit you. Pay on a weekly, bi-weekly, or monthly basis. Once your minimum loan payment is set, you can make additional payments at any time. Also your loan at Niverville CU may be prepaid or paid out at any time, with no penalty.

Line of Credit

Having a Line of Credit allows you to be in a financial position to access money when you need it - for emergencies, home appliances, car repairs etc. How you use the funds is up to you. A line of credit allows you to overdraw your chequing account within a pre-established limit. The line of credit is accessible for Direct Payment purchases and ATM cash withdrawals.

Interest rates on a line of credit are lower than with credit cards, it makes sense to use a Line of Credit as a revolving source of cash. Interest is charged on the amount borrowed and only for the number of days it is used. If you don't use it you don't pay interest.

Features include:

• Overdraft protection up to a pre-authorized limit
• Instant access to funds for purchases or bill payment
• Interest much lower than a credit card calculated only on the negative balance in your chequing account on a daily basis, charged monthly
• If your line of credit is not used, interest is not charged
• Monthly minimum 3% repayment

Home Equity Loans / Equity Lines of Credit

If you have equity in your home and need to borrow money for home renovations or major purchases, a Home Equity Loan or Equity Line of Credit could meet your needs very well. With a home equity loan or equity line of credit, you pay a lower interest rate than a normal personal loan and you can repay the loan over a longer period of time so your monthly payments can be easier to handle.

All Home Equity Loans and lines of credit can be repaid at any time without penalty.

Mortgages

• Mortgages available for residential, agricultural or commercial properties
• Conventional and CMHC insured mortgages
• Amortization periods up to 25 years
• Mortgage life insurance available
• Competitive interest rates
• Payment options - weekly, bi-weekly or monthly

A home may be the biggest investment you will ever make. When contemplating a mortgage it is a good idea to get the advice of a professional from Niverville Credit Union. Whether you are buying a home for the first time or renewing your mortgage, we understand the importance of working out the best possible mortgage package, so your home or renovations are truly affordable.

We recognize that having flexible repayment and prepayment options is very important to mortgage holders. Did you know that Credit Unions were the innovators of bi-weekly payments that substantially reduce the interest costs of your mortgage?

We stretch your mortgage dollar with competitive interest rates and no hidden charges or penalities so that your mortgage can be home free and clear as quickly as possible.

NCU's mortgage features include:

• 90 Day Rate Guarantee with a pre-approved mortgage
• Same day approval of financing, in most cases
• CMHC approved mortgages available
• Home equity financing
• Life and disability insurance available
• Group home owners insurance, with bi-weekly payment option
• Builder's mortgage loans available
• Construction mortgage available
• 10% Prepayment priviledge
• Portability

Pre-Approved Mortgages
Speak to one of our Financial Service Representatives before you buy and we'll show you all the advantages of having your financing in place with a Niverville Credit Union pre-approved mortgage. We'll show you how to have a manageable mortgage that gives you the peace of mind knowing that your home or renovations are affordable.

• Helps you determine what you can afford
• Interest rate guaranteed for 90 days - if rates drop in that time period you get the lower rate
• A pre-approved mortgage puts you under no obligation and is free of cost
• Rapid pre-approval - usually within two days

Term Loans

Personal loans can be used to finance purchases of a wide range of personal goods including automobiles; furniture and appliances; recreational equipment etc. Since interest rates on personal loans are normally much lower than credit card interest rates, personal loans are beneficial in consolidating debts to lower monthly payments and interest costs. The interest rate charged on personal loans depends on a number of factors including the purpose of the loan; the security taken; the length of the term of the loan; the degree of risk and the amount of business that a client does with the financial institution. Unlike mortgages, it is difficult to compare personal loan interest rates because of these varying factors.

• Flexible term lengths
• Competitive fixed or variable interest rates
• Personally tailored payments can be weekly, bi-weekly, monthly, quarterly, semi-annualy or annualy
• Consumer loans covering everything from RRSP purchases to vehicles
• Loans open to pre-payment or payoff at any time without penalty
• Life and disability insurance available
• All term loans can be repaid at any time without penalty