Inflation Buster

The Credit Union offers a variety of credit facility options that can assist our members during periods of uncertainly.  We offer Line of Credits, Mortgages and Meritlines with helpful options to make payments more affordable especially during challenging times.  If you are finding it difficult to make ends meet, call us today for a consultation.


See What kind of mortgage is Right for you

Fixed Rate Mortgages

TECU offers fixed rate mortgages ( 1,2,3,4,5, year closed). You can start by choosing the term you want.

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Top Up / Refinance

You can increase your existing mortgage or apply for a new mortgage if your home is free and clear. This can save you money by allowing you to consolidate any credit cards or loans at a much lower interest rate and lower your monthly payments.

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Bridge Mortgages

Bridge financing is available when the closing date of the property purchased by a member occurs before the closing date of the property sold by the same member.

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Flexible Downpayment

Need help to lower your monthly payments and get rid of unwanted debt? If you are unsure what to do, we have free credit counseling services.

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CMHC Energy Efficient

When you purchase a home built by a recognized energy efficient builder, you can save.

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Home Equity Line of Credit

TECU MERITline™ enables members to use the equity of their home for investment purposes or for any number of uses.

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*A Fixed Rate Mortgage is not based on the Credit Union’s Base Rate (Prime).  The rate is Fixed for the duration of the term of the Mortgage.

*Merit-Line rates are a Variable Rate Mortgage based on the Credit Union’s Base Rate (Prime).  Variable Rate Mortgages will have an adjustment factor above the Base Rate.  For example, if the Base Rate is 4.00% with an adjustment factor of 1.00%, your total Interest Rate will be 5.00% APR.  The Credit Union may vary the Base Rate at anytime.  The Base Rate is not geared to the Bank of Canada’s Rate or the Prime Rate you may see at other Financial Institutions.  Your adjustment factor will remain the same for the term of your Mortgage.

*In the event of delinquency, payments that are blended with Principal and Interest will be applied in the following order: Delinquent Interest, Interest, Delinquent Principal, Principal.

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