Investment Loans
- Loan is due in full if transfer or redemption of RRSP is requested
- Fixed deposits remain for the duration of the term following repayment of the loan.
- All lending is subject to credit approval within normal credit guidelines.
Personal Loans and Lines of Credit
Navigating life at any stage while managing your finances can be challenging. At Morell Credit Union, we can help with a personal loan or line of credit tailored to meet your needs.
Find the personal loan or line of credit to fit your next big goal
Personal Loans
Description
Making a purchase – we are here to help. Whether you are planning a renovation, a wedding or purchasing a recreational vehicle, we have a loan product right for you.
KEY FEATURES
- Competitive Rates
- Flexible Terms
- Low APR
- Fast and simple approval process
Vehicle Loans
Description
Whether you’re buying a new vehicle or a new-to-you used vehicle, we can help.
KEY FEATURES
- Flexible Repayment Options
- Terms up to 7-years on new vehicles
- Fast and simple approval process
Debt Consolidation Loans
Description
Simplify your finances by combining all your debts into a single loan payment.
KEY FEATURES
- Pay down debt faster and save on interest costs
- Improve your cash flow
- Leverage your assets to lower the interest rate
Investment Loans
Description
Making the maximum contribution to your Registered Retirement Savings Plan (RRSP) each year is one of the best ways to build a secure retirement. But there are times when it's hard to find all the money.
KEY FEATURES
- Terms from 12 months to 10 years.
- 5-year renewal for fixed rate loans.
- Invest in Mutual Funds.
- Invest in products available through Morell Credit Union
Home Equity Line of Credit
Description
With a HELOC, you’ll benefit from low interest rates and the flexibility to borrow as you need, thanks to the equity you've built up with your home.
KEY FEATURES
- Lower interest rate due to security.
- Access money when you need it, which provides peace of mind
- Flexible weekly, bi-weekly, or monthly repayment schedules
- Renewal term - one to three years
Personal Line of Credit
Description
You can access a specific amount of money and then use any amount within your approved limit. Ongoing, flexible options offer a long-term solution to maximize your purchasing power.
KEY FEATURES
- Easily access funds through your chequing account
- Instant access to your funds as you need it
- Competitive interest rates
- Flexible payments, including interest-only
Student Line of Credit
Description
Making the decision to continue your academic studies is a significant and exciting decision. A line of credit can help ensure you have the funds when needed allowing you to focus on your academic journey and not worry about your finances.
KEY FEATURES
- Available for full and part-time students
- Applicable for community college, university, or technical school
- Competitive interest rates and flexible repayment schedules
- Interest-only loan payments while attending your program
Get your loan more ways
Not sure which loan is right for you?
We’ll be happy to help you pinpoint the option that best suits your needs.
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Take a look at the latest, competitive rates on offer for our lending solutions.
Try our calculator for help finding a loan that suits you and your budget.
