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Personal Loans | Line of Credit | Loan Application (pdf)
Helping you achieve your lifestyle goals.
A boat…vacation…home improvements…new furniture - whatever your particular lifestyle goals are, an OWCU Personal Loan can help you achieve them...easily and without a lot of hassle of red tape.
We understand your personal goals and objectives and the concerns you might have regarding getting and repaying a loan.
So we’ve made our Personal Loans program as simple and as flexible as possible.
First of all we offer competitive rates available with simple interest payable only of the remaining balance, which means as you pay off the loan, you pay less interest. In effect you’re charged only for the money you’re actually using.
And when it comes to a repayment plan, you basically call the shots. We’ll set up a schedule that suits your specific situation so you can speed up your payments or pay off the loan at any time without penalty.
Whatever your lifestyle goals are, we’re here to help you achieve them with an OWCU Personal Loan.
- Available for any worthwhile purpose for amounts up to $37,000.
- These are variable rate loans - interest rates may fluctuate through the repayment period, based on changes in the market and the prime rate.
- Interest rates are based on the type of loan (i.e. a car loan) and/or the security available.
- A disbursement fee of $30.00 applies to loans of less than $3000.
- Life insurance and disability insurance are available at reasonable cost.
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Maximize your purchasing power. When it comes to smart money management, one of the smartest things you can do to make the most of your purchasing power is to establish a Line of Credit with the credit union.
A Line of Credit is a one-time approved ongoing loan that allows you to borrow up to a pre- arranged limit by simply writing a cheque, using an ATM, or making a Direct Payment purchase.
You only pay interest on the exact amount you borrow and only for the number of days you’ve used it… at rates substantially below retail credit cards.
It’s ready cash when you really need it - travel emergencies, car repairs and to take advantage of savings on specially priced on-time bargains. And the Line of Credit is your protection at any time against over-drawing your account or having cheques returned because of insufficient funds.
The OWCU Line of Credit is a sensible part of your money management program to maximize your buying power
- Lines of Credit are loans which advance to chequing accounts as required - providing overdraft protection.
- These are variable rate loans - interest rates may fluctuate through the repayment period, based on changes in the market and the prime rate.
- Interest rates are based on the type of security available.
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