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)

Update (March 31, 2021): The Government of Canada, alongside its partners EDC has announced that the application deadline for the Canada Emergency Business Account (CEBA) program has been extended to June 30, 2021. More details can be found below.


The Government of Canada in partnership with the Export Development Canada (EDC) has launched the Canada Emergency Business Account (CEBA) grant program to provide eligible business owners with an interest-free, government-backed loan of $60,000 to help ease the financial strain experienced as a result of the COVID-19 pandemic.


If you are a business member and have an existing CEBA loan administered through our credit union, and the loan is in good standing, you may apply for the program by clicking here. CEBA 5.0 Application   For those who are eligible, $10,000 will be forgivable if repaid by December 31, 2022. For example, if you are a business who has a current loan of $40,000 and are approved for the additional funds under the new criteria of $20,000 your total loan is $60,000 and of that, $20,000 is forgivable if repaid before December 31, 2022.


For those business members who do not have an existing CEBA loan or pending application, and meet the criteria outlined by EDC, you may be eligible for a loan up to $60,000 with a total of $20,000 forgivable if repaid prior to December 31, 2022. New applicants must complete the EDC pre-screening tool here and follow the other application requirements outlined below.


The application deadline has been extended to June 30, 2021


To determine if you may meet the CEBA eligibility requirements, please use the EDC CEBA pre-screen tool.


If it is determined that you may be eligible, contact us at <insert phone number and email contact> to open a business chequing/operating account and continue the application for the CEBA loan here.

Questions Regarding CEBA 5.0

The Government of Canada and Export Development Canada (EDC) have 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 total of $60,000 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 and Export Development Canada (EDC) until June 30, 2021. To apply, please complete the following:


  1. Complete a government pre-screening to see if you may be eligible for the CEBA Program. If you may be eligible, you will receive 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 directly at 902-895-2841 or to open your business banking account.
  3. Submit your application by clicking here.  CEBA 5.0


  • Who can apply for the $20,000 expansion?
    • Applicants with a $40,000 CEBA loan may apply for the $20,000 expansion. To apply, click here. CEBA 5.0 Application


  • I already repaid my original CEBA loan. May I apply for the $20,000 expansion?


  • What are the repayment terms for the $40,000 and $60,000 loan and the $20,000 expansion?
    • The following terms apply to all CEBA loans (original loan and expansion loan):


  • 0% per annum interest until December 31, 2022
  • 5% per annum interest starting on January 1, 2023; interest payment frequency to be determined by your financial institution

Repayments & Maturity:

No principal repayment required before December 31, 2022

If loan remains outstanding after December 31, 2022, only interest payments required until full principal is due on December 31, 2025

Debt Forgiveness:

If the outstanding principal, other than the amount of potential debt forgiveness, is repaid by December 31, 2022, the remaining principal amount will be forgiven, provided that no default under the Loan has occurred

  • Can I apply for an amount other than $20,000 for the expansion?
    • Applicants applying for the expansion can only apply for the full $20,000. If you’re a new applicant click here to fill out the EDC pre-screen tool to see if you may be eligible. For existing CEBA loan, click here to apply for the expanded program. CEBA 5.0 Application

Can I still apply for a $40,000 loan instead of a $60,000 loan once the expansion is available at my financial institution?

No, under the expanded program you may no longer apply for $40,000.

How can I apply for the $20,000 expansion?

  • Do I need to submit a new application for the $20,000 expansion?
    • Yes, you will need to submit a new application and attestation to the financial institution that provided you with your original CEBA loan. You will not need to resubmit your original application, or re-upload expense documents. To apply, click here CEBA 5.0 Application
  • I applied for a CEBA loan before the expansion was announced. Can I cancel my existing $40,000 loan application and reapply for a $60,000 loan instead?
    • Please reach out to us directly at 902-895-2841 or for more information. Note that choosing to cancel your application will reset adjudication timelines, adding additional processing time. An additional attestation will need to be submitted to apply for a $60,000 loan.

With respect to your existing $40,000 loan application, once you have applied, uploaded all necessary supporting documents (if applicable), and if pre-funding eligibility validation is successful, you should expect to receive funding within 10-15 business days. Upon approval of your original loan application, you may then apply for an expansion and can do so by clicking here. CEBA 5.0 Application

  • How long does it take to receive a $40,000 or $60,000 CEBA loan?
    • Once you have applied <link to Cinchy URL>, uploaded all necessary supporting documents (if applicable), and if pre-funding eligibility validation is successful, you should expect to receive funding within 10-15 business days.
  • What are the terms of the forgiveness?
    • If you borrowed $40,000 or less: Repaying the outstanding balance of the loan (other than the amount available to be forgiven) on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000).

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