Your Business

At Community Credit Union, growing your business means a wide range of specialized services to meet changing business needs. As part of your business community, our solutions are customized to your individual requirements. As an owner with Community Credit Union, we are committed to responding to your business needs quickly and effectively.

Whether you’re in the service industry, in the business of selling "big-ticket" items or your sales volumes are what drive your bottom line, we have the solutions for you. If you’re looking to expand your business with a commercial loan or mortgage, we have commercial lending specialists to guide you through. Build your relationship with your employees with our employee benefit programs such as Group RRSPs.

If you have any questions or would like to discuss your business needs, please visit one of our branches or contact us at 1-866-318-7541

Canada Emergency Benefit Account (CEBA)

The Government of Canada has launched the Canada Emergency Business Account (CEBA) to support businesses and non-profits that have been adversely affected by COVID-19. Eligible businesses will receive a $40,000 loan for immediate financial support to cover short term operating expenses, payroll, and other non-deferrable expenses which are critical to sustain business continuity.


We are accepting applications for the CEBA loan program on behalf of the Government of Canada program and Export Development Canada (EDC) until December 31, 2020. To apply, please complete the following:

  1. Complete a government pre-screening to confirm your eligibility for CEBA. If you’re eligible, you’ll get a 10-digit pre-screen number.
  2. Open a business account. A business account is required to qualify for the CEBA program. Contact us at 1-866-318-7541 or to open your business banking account.
  3. Submit your application by clicking here.



Update (October 28, 2020): The Government of Canada announced changes to the Canada Emergency Business Account (CEBA) loan to provide Canadian businesses more support during these financially difficult times. Under the new criteria, businesses who had a business banking account after March 1, 2020 may now qualify and will be required to pre-qualify using a pre-screening tool developed by the EDC. Applications are now being accepted until December 31, 2020. The Program will be expanded to enable qualifying businesses that continue to be seriously impacted by the pandemic to access an additional $20,000 of financing, on top of the original CEBA loan of $40,000. We will share more details as they are announced from the from the government.


If you’re using your personal bank account for your business, you can still apply for a CEBA loan. Complete the government’s pre-screening to confirm your eligibility for CEBA. If eligible, you will need a business account to qualify. Contact us at 1-866-318-7541 or to open your business banking account.


What is the CEBA Program

  • Up to $40,000 interest-free loan to help you cover operating costs you were not able to defer because of COVID-19.
  • 25% (up to $10,000) of the loan proceeds is eligible for complete forgiveness if loan is repaid on or before December 31, 2022.
  • If the loan cannot be repaid by December 31, 2022 it can be converted into a 3-year loan with a fixed interest rate of 5% per annum.


How does the CEBA loan work?

  • The loan will be funded as a term loan (up to $40,000), 0% interest and no payments until December 31, 2022.
  • No interest will apply until January 1, 2023.
  • Beginning January 1, 2023, interest accrues on the balance of the term loan at a fixed rate of 5% per annum, payable monthly on the last day of the month.
  • If you pay 75% of the balance of the term loan on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $40,000 on January 1, 2021 and you repay $30,000 on or before December 31, 2022, the remaining $10,000 will be forgiven.
  • If you do not repay the 75% of the balance of the term loan on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.


What’s the eligibility criteria?

As set out by the Government of Canada, your business is eligible if it:

  • Is a Canadian business in operation as of March 1, 2020
  • Has a business banking or borrowing relationship with the credit union and the credit union is your primary financial institution.
  • Has a business chequing/operating account with the credit union and is in good standing.
  • Does not have any loans with the credit union in arrears by 90 days.
  • Has total employment income paid in the 2019 calendar year was between Cdn. $20,000 and Cdn. $1,500,000. For applicants with Cdn. $20,000 or less in total employment income paid in the 2019 calendar year:
  • The Borrower has a Canada Revenue Agency business number and has filed a 2018 or 2019 tax return.
  • The Borrower has eligible non-deferrable expenses between Cdn. $40,000 and Cdn. $1,500,000. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Expenses will be subject to verification and audit by the Government of Canada.


CEBA criteria has now been expanded to include the following;

  • Has eligible non-deferrable expenses in the 2020 calendar year between $40,000 and $1,500,000.


Please note: If you cannot locate your T4SUM contact Revenue Canada to have them re-issue your 2019 statement.


If you have further questions, please connect with your Commercial Lending Representative directly at 902-895-2841 or


Note: Please be advised that by clicking on the link below you will be taken to an external site.

Online Application – Apply Now


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