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    LINES OF CREDIT & LOANS

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    CHOOSE THE RIGHT BORROWING SOLUTION

    Sometimes, the best way to reach your financial goals is to borrow money. We're here to guide you through it.


    Personal Loans

    Get the money you need up front and choose the loan repayment option that fits your lifestyle and your budget. Your monthly payments are predictable and stay the same over the term of the loan.

    Lines of Credit (LOC)

    For everything planned and everything unexpected, you can have access to credit as you need it. The interest rate is variable and your minimum monthly payment will vary each month.

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    Secured vs. Unsecured


    Loans and LOCs are available as secured or unsecured products. Secured loans and LOCs are protected by collateral or assets in case of a default. When a loan or LOC is secured, you can usually qualify for a larger amount and get a better interest rate.
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    ESTIMATE YOUR LOAN PAYMENT

    Use our calculator below to estimate how much you can borrow and what your payments will be. Choose to calculate your loan payment for a specific amount using the Payment tab. Or, under the Amount tab, start with the payment you can afford and from there calculate how much you can borrow.


    BORROWING IS SIMPLE

    Whether you want to make a major purchase, renovate your home, buy a new car, borrow to invest or consolidate your debt, our experts can help you choose the borrowing solution that's right for you.

    Apply for a personal loan online or call us at 1-888-597-8083 to get started.

    APPLY ONLINE
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    Resources


    Build Your Credit

    Understanding your credit score gives you the keys to building your credit so you can get better rates. 

    READ ARTICLE

    Credit Protection

    Maintain your family's lifestyle in the event that something should happen to you with loan insurance.

    LEARN MORE

    Financial Snapshot

    Understand where your borrowing fits in your larger picture and how it helps you reach your goals. 

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    BORROWING OPTIONS

    PERSONAL LOAN

    For whatever life throws at you. Get the money you need up front and choose the repayment option that fits your lifestyle and your budget. Your monthly payments are predictable and stay the same over the term of the loan.

    Key Features & Benefits

    • Loan amount: $5,000 to $5,000,000
    • Loan term: 1 to 5 years, with an option of up to 15 year amortization, depending on the loan
    • Choose between an unsecured line of credit (based on your income and credit rating) OR a secured line of credit (based on your assets)
    • Quick approval, with pre-approval option
    • Flexible payment options
    • No prepayment penalties



    PERSONAL LINE OF CREDIT

    LOCs give you access to available funds up to an approved limit. Use them to purchase a car, pay for a vacation, cover tuition fees or fund short term cash needs. Your money is simply an extension of your account. The interest rate is variable and your minimum monthly payment will vary each month.

    Key Features & Benefits

    • LOC amount: minimum $5,000
    • Choose between an unsecured line of credit (based on your income and credit rating) OR a secured line of credit (based on your assets) like a Home Equity Line of Credit (HELOC) which allows you to access the equity built into your home as a financial resource
    • Interest charged only on the funds you use
    • Quick approval
    • Interest only payments allowed
    • Flexible payment options
    • No prepayment penalties​

    OVERDRAFT PROTECTION

    With bill payments, debit transactions, preauthorized payments, and cheques, all coming from your account, sometimes your balance isn’t what you think it is. In the event of a shortfall, overdraft protection provides you access to available funds, up to an approved limit, to avoid the inconvenience and cost of an overdraft and/or returned payment. Think of it as backup.

    Key Features & Benefits

    • Overdraft amount: maximum $5,000
    • Can be used any time throughout the month to cover unplanned or short-term expenses
    • Your money is simply an extension of your account
    • Quick approval
    • Flexible payment options—minimum 3% of the previous month end balance
    • No prepayment penalties
    • Interest charged only on the funds you use
    • Monthly Fee of $2.00
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    WE'RE HERE FOR YOU

    Everything is easier with a little help.

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    First West Credit Union