CN (London) Credit Union
Products & Services
CN (London) Credit Union
Consumer Loans...Consumer loans are granted for worthwhile, productive purposes at very competitive rates and convenient repayment terms. We offer simple interest loans and there is no penalty for repaying the loan in advance. Rates of interest are based on Credit Union Prime to qualified borrowers. Personal Loans are eligible for annual interest rebates, a benefit only offered through your Credit Union.
Home Equity Line of Credit...As a member, you can establish a Credit Union Home Equity Line of Credit (HELOC) and access up to 75% of the appraised value of your home, less any prior mortgages.
Interest rates as low as Credit Union Prime (see our rates page) Pay off all higher interest debt with one monthly payment.
Use for home improvements, new car purchases or for any purpose you wish. Access as often as you like. Once established, no further applications or approval necessary. Withdraw funds by writing a cheque, or using your MemberCard® for Interac® direct Payment or ATM access.
Pay any or all of your outstanding balance at anytime without penalty. Make monthly repayments as high as you like or, if you need to increase your cash flow, pay interest only.
Lease Alternative Loans...This type of loan allows you to purchase a new or nearly new vehicle and set payments that are affordable to you. You negotiate the lowest cash price and you own your vehicle. We'll amortize the loan over a 6 or 7 year term to lower your monthly payments. No additional "lease" fees or pre-conditions and you can increase your payments or pay off the loan in full at any time.
Mortgages...The Credit Union Mortgage Program provides mortgage financing for member-owned and member-occupied homes. Our mortgages are fully open for early repayment and you may choose a weekly or biweekly payment option. In addition, there are no application fees or annual renewal fees with your Credit Union mortgage. Variable rate at Credit Union prime or one year fixed rate terms are available. Only Credit Union mortgages are eligible for profit sharing rebates.
For members preferring longer term mortgages, a full range of fixed terms and options are available by way of our mortgage referral program funded by Concentra Financial®.
Other Mortgage Information...