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Access Credit Union's 2023 Annual Report and Financial Statements are now available. Learn More.
Loans & Lines of Credit
Personal Loans
Personal Loans: Fast and flexible borrowing options
A lower interest alternative to credit cards or payday loans, personal loans are one of the most commonly used borrowing options for members who have a specific amount in mind for a specific need, as they’re a one-time use solution with set payments.
Personal Loan
Perfect for making a major purchase—such as a vehicle—or consolidating your higher interest debt. A personal loan can be secured with a deposit or an asset, and offers:
- Flexible repayment schedules
- No early repayment penalties
- Your choice of variable or fixed interest rates
RRSP Loan
Maximizing your RRSP contribution each year lets you enjoy tax advantages now while you save for your future. If you do not have the money, an RRSP loan can help you make that contribution! It allows you to:
- Maximize the current year's contribution, and use any unused carry forward amounts
- Increase your retirement income
Lines of Credit
Borrow money when you need it
Lines of credit offer lower interest rates than most credit cards and loans – saving you money in the end. Once you’re approved, you have access to the funds you need.
Plus, you only pay interest on the funds you use.
Personal Line of Credit
A line of credit from Access Credit Union enables you to purchase those things you want exactly when you need them.
- Pay down your balance at any time
- Pay less interest (we only charge interest on the balance you’ve used)
- Keep it open and available even when not in use
Home Equity Line of Credit
A home equity line of credit (HELOC) allows you to use the equity you've built up in your home as a secured line of credit.
- Get up to 65% of the value of your home
- With a ‘line of credit’ home equity loan, you’re only charged interest on the amount you actually use out of the line of credit.
Student Line of Credit
Borrow what you need, when you need it to help fund the cost of post-secondary education.
- Helps towards covering the cost of books, tuition, living expenses
- While you’re in school, you only need to pay back the interest portion of the line of credit
- Upon completion of your post-secondary schooling, you’ll have six months before you need to begin repayment
Members with a line of credit product attached to their Pay As You Go account will enjoy two free transactions per month to facilitate use of the line of credit funds. The two debits will be waived only if the LOC was used within that month.