Personal Loans

RCU wants to help you reach your goals; taking that dream vacation, buying a car, saving for your RRSP or paying for a post-secondary education. We offer various borrowing options based on your unique needs. With competitive rates and flexible terms, we'll help make your dreams a reality.


Loan Product

Key Features

Best for you if ……

Unsecured Personal loan

Open term up to 5 years at variable rate; maximum amount $15,000;

If you need extra money to purchase furniture, appliances, used car, family getaway or cover other expenses without using high interest credit cards.

Secured Personal loan

Acceptable security include: vehicle, motorhome, GIC, TFSA, bonds, deposits, real estate

Open term matching the life of assets pledged as security.

Amount and interest rate depend on value and type of security pledged.

You need more than $15,000 to buy: a car (not older than 5 years), a boat, renovate your kitchen, pay tuition…

RRSP loan

Open term up to 12 months
RRSP deposits held at RCU
Low interest rate

If you do not have money to make your annual RRSP contribution or to “top up” unused contribution room from past years

Lines of Credit


Line of credit attached to your chequing account to cover any cash flow deficiencies
Open term, revolving, variable rate
You want to have available credit at any time for unexpected expenses or to cover some cash flow deficiencies

Student loan

Maximum $15,000 per year to a total of $60,000

Guaranteed by parents, guardians or grandparents

Low interest rate, interest only payments required once a year

Student loan will be  converted to regular personal loan at the end of the grace period of 6 months after graduation (max amortization 15yrs)

You are a full-time undergraduate student studying at a fully-accredited Canadian university or community college


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Loans Rates
Personal Loans 5.60%
Line of Credit 7.10%
Student Loans 2.95%