Investment Loans

Save Your Money, Use Our Money & Beat The Taxman
Community Credit Union offers investment loans to our members to finance investment purchases. An investment loan is a personal loan with tax advantages. The interest expense incurred on the borrowed amount may be deducted when filing your income tax return. This is a dollar for dollar tax deduction from taxable income.

An investment loan may include borrowing to purchase a GIC, Canada Savings Bonds or Mutual Funds**.

Theory states that it is easier to pay a loan than to build up a savings account. Use your money to secure your loan and save again with a fully secured interest rate reduction.

RRSP Loans
Top up your *RRSP with a Community Credit Union top up loan. RRSP loans can be amortized over a maximum of ten years, with a minimum payment of as little as $100.00 per month.

Our rates and terms are flexible.

Disability and Life Insurance also available to qualifying members.

*RRSP loans do not qualify for the interest expense tax deduction for income tax purposes, an RRSP is already tax advantaged.

**”Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments.  Please read the prospectus before investing.  Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.”

Using borrowed money to finance the purchase of securities involves greater risk than purchasing using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.

 


™ Experience the Difference Logo is a registered trademark of Community Credit Union of Cumberland Colchester Limited, 2014