Loans and Credit Lines
If you need to consolidate debt, pay for school, or pay for home renovations, our flexible financing solutions are available for when you need them most.
What type of loan do you need?
Personal Loans
Overview
Get the credit you need now, with a repayment schedule that works for you. From consolidation loans to loan specials, we have various options for you.
Key Features
- Open repayment terms with 1 to 5 year options
- Choose from blended or simple interest payments
- Available for various different purposes
Student Loans
Overview
Help pay for anything from tuition to rent.
Key Features
- Parents incomes are not used to qualify for the loan itself. However, parent or grandparent guarantor is needed.
- Discounted rate
- Maximum of $5,000 per education year
- Interest only payments while in school
- Different from government loan programs
Car Loan
Overview
Save money and pay off your car loan quicker.
Key Features
- Financing for new or used cars up to 6 years old
- 1 - 5 year terms
- No penalty for early paybacks or for making extra principal payments
- Pre-approvals available
What type of credit line do you need?
Personal Line of Credit
Overview
Convenient and flexible option, that gives you access to money when you need it.
Key Features
- Low interest rates - save money by not paying high credit card rates
- No fee access
- Use this account like you would a regular chequing account - debit card access, write cheques, etc.
- Minimum payment of accrued interest
- Reuse your available credit
- Flexible repayment options
Home Equity Line of Credit (HELC)
Overview
Provides ready access to low cost funds to those who have equity in their home. Used for many different reasons like home renovations, to make a down payment for a second property, and more.
Key Features
- Lower interest rates than Personal Line of Credits
- Accessible for as long as you own your home
- Gives you access to a larger line of credit limit
- Accessible by cheque, branch withdrawal, bill payment and more
HomeFund® Reverse Mortgage
Overview
Provides extra income to you when your other savings are depleted and you are not ready to sell your home.
Key Features
- Restrictions based on income and net worth
- Short-term mortgage, with a maximum of a 5 year amortization
- Cannot own more than one property to qualify for the HomeFund
- The equity is determined by a full appraisal
Adventure further
Earn more rewards and travel benefits with our Northern Birch Credit Union travel Mastercards.
Meet with our lending team. They'll be happy to guide you through every step of the borrowing process.
Our nifty loan calculator will crunch the numbers to estimate your payments, determine when you'll be paid off and more.
Helpful resources
First-Time Borrower?
Buying a home for the first time? Learn more about the process & what you should know.
Learn about the importance of saving
Building up an emergency savings can help you down the road. Read how.
What does my credit score mean?
Why do credit scores matter so much? Read about them on our blog.
