Find your loan

Line of credit

  • Minimum amount $500.
  • One-time approval.
  • Revolving credit.
  • Variable interest rates.
  • Access funds by ATM, cheque, debit card, etc.

Payment

  • Deposits to your account are applied to advanced amounts first.
  • An NSF deposit is treated as non-payment and interest continues to accrue on advanced amounts.
  • Interest is payable monthly at month end.

Perfect for...

…avoiding the inconvenience and cost of dealing with temporary cash shortages (up to a predetermined limit).

Personal loan

  • Fixed or variable interest rates.
  • No penalty for early repayment.
  • Quick approval – usually within one business day.

Payment

  • Payment amount is fixed for a predetermined period of time.
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • Accelerated payments can be weekly or bi-weekly.
  • Payment amount can be increased at any time.
  • No prepayment penalty.

Perfect for...

…those looking for financing for almost any purpose.

RRSP loan

  • Fixed term length
  • .Fixed or variable interest rates.
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • Rates as low as prime + 1.25% are available if purchasing Conexus sponsored RRSP products.

Payment

  • Payment amount is fixed for a predetermined period of time.
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • Accelerated payments can be weekly or bi-weekly.
  • First payment may be deferred up to 45 days.
  • Payment amount can be increased at any time.
  • No prepayment penalty.

Perfect for...

…members who prefer structured payments and have unused RRSP contribution room, or want to borrow to make an RRSP contribution.

QuickLine

  • One-time approval.
  • Revolving Credit.
  • Variable interest rate.
  • Access to loan funds by ATM, cheque, debit card, etc.
  • Put the equity in your home to work—as security to provide instant access to funds.

Payment

  • Choice of payment amount (3% of balance, 1.5% of balance, or interest only).
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • No prepayment penalty.

Perfect for...

…those who want a readily available source of credit, that’s there when you need it, for whatever you want.

RRSP QuickLine

  • Revolving credit.
  • Variable interest rate.
  • Ongoing loan.
  • Rates as low as prime + 1.25% are available if purchasing Conexus sponsored RRSP products.

Payment

  • Choice of payment amount (3% of balance, 1.5% of balance, or interest only).
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • No prepayment penalty.
  • First payment may be deferred up to 45 days.

Perfect for...

…those who have unused RRSP contribution room or want to borrow to make an RRSP contribution.

Home Plus Plan

  • Revolving Credit.
  • Variable Interest Rate.
  • Apply just once to establish your Home Plus Plan initial credit limit and secure your borrowing with a minimum 20% equity in your home.
  • Borrow up to 80% of your home’s current appraised value and can potentially save on borrowing costs for as long as you own your home.
  • Manage repayment options by separating available credit into different sub-loans.
  • Choose from a range of loan products that meet your needs.
  • Upon request, all or a portion of repaid amounts may be re-advanced.

Payment

  • Interest only on the revolving credit loan6 - due monthly.
  • No prepayment penalty on the revolving credit loan.
  • Sub-loan payments will be set at time of loan approval.
  • Sub-loan may be subject to a prepayment penalty.

Perfect for...

…those who want to use the equity in their home to build their dreams.

STUDENTCHOICE® Education Loan

  • Easy access to funds as you need them.
  • Revolving credit while enrolled.
  • Variable interest rate.
  • After study program is complete, you will have up to 1 year before needing to set up a fixed payment schedule.
  • Choose from three different loan programs.

Payment

  • Payment amount is fixed for a predetermined period of time.
  • Make payments weekly, bi-weekly, semi-monthly, or monthly.
  • No prepayment penalty.

Perfect for...

…students in full or part-time education who are looking to ease their education expenses.

Loan terms and conditions Expand/Collapse

The information provided is general in nature only. For complete details contact a Conexus Credit Union lending expert.

Line of credit
1.    If approved for a line of credit, you may borrow up to the credit limit set by Conexus. Your line of credit interest rate is determined at the time of application.
2.    Account operation must be satisfactory for continuing credit. Conexus reserves the right to terminate your line of credit at any time, with notice.
3.    A variable rate will change when the prime rate changes.
4.    A $5 fee is charged for each overdraft item and overdraft interest is charged at a rate of 21% per year (rate may vary from time to time). The decision to allow overdraft items is at Conexus’ sole discretion.

Personal loan
1.    All applicants must meet Conexus Credit Union lending criteria for loan approval.
2.    A fixed rate will not change for the term of the loan. A variable rate will change when the prime rate changes. If rates go down, more of your payment is applied to the principal balance owing.
3.    Rate discounts may be available for each loan insurance product purchased through Conexus.

Conexus Powered by Grow – TBC

RRSP Loan
1.    All applicants must meet Conexus Credit Union lending criteria for loan approval.
2.    Maximum 60-month amortization for loans up to $7,500.
3.    A fixed rate will not change for the term of the loan. A variable rate will change when the prime rate changes. If rates go down, more of your payment is applied to the principal balance owing.
4.    Rate discounts may be available for each loan insurance product purchased through Conexus

QuickLine
1.    All applicants must meet Conexus Credit Union lending criteria for loan approval. Credit limits are determined by Conexus, at our sole discretion.
2.    You do not need to reapply. Your loan must remain in good standing for continuing credit.
3.    A variable rate will change when the prime rate changes. If rates go down, more of your payment is applied to the principal balance owing.
4.    Subject to Conexus lending approval.
5.    Rate discounts may be available for each loan insurance product purchased through Conexus.

RRSP QuickLine
1.    All applicants must meet Conexus Credit Union lending criteria for loan approval. Credit limits determined by Conexus, at our sole discretion.
2.    You do not need to reapply. You loan must remain in good standing for continuing credit.
3.    A variable rate will change when the prime rate changes. If rates go down, more of your payment is applied to the principal balance owing.
4.    Subject to Conexus lending approval.
5.    Rate discounts may be available for each loan insurance product purchased through Conexus.

Home Plus Plan
1.    Loan must remain in good standing for continuing credit.
2.    A variable rate will change when the prime rate changes. If rates go down, the interest payment will decrease. If you select a sub-loan at any time, the interest rate applicable to the sub-loan may be different.
3.    All applicants must meet Conexus Credit Union lending criteria for loan approval.
4.    Applicable terms will be disclosed at time of approval. The number of sub-loans permitted may be limited.
5.    GMP (Group Mortgage Protection) is purchased separately through CUMIS.
6.    Subject to Conexus lending approval.
7.    Unless there is a sub-loan, in which case the prepayment terms of the sub-loan will apply.

STUDENTCHOICE® Education Loan
1.    All applicants must meet Conexus Credit Union lending criteria for loan approval.
2.    Fixed payment schedule is subject to a maximum of 10, 15 or 20-year amortization, depending on program year amortization.
3.    Enrollment verification is required in January and September each year. Your loan must remain in good standing for continuing credit.
4.    A variable rate will change when the prime rate changes. If rates go down, the interest payment required will decrease.
5.    Annual recommended amounts are cumulative depending on program and maximum aggregated totals. Loan maximums may be prorated for part-time students.
 

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