Borrowing

Whether you're looking for a loan, line of credit, or your line of credit at your fingertips tied to your chequing account, at Mainstreet we can help you get the funds and advice you need to achieve the goals you want.

Borrowing Chart Header Image
LINE OF CREDIT HOME EQUITY LINE OF CREDIT (HELOC) PRIMELINE HOME EQUITY CHEQUING ACCOUNT OVERDRAFT PROTECTION PERSONAL LOAN
PRODUCT OVERVIEW A revolving line of credit to meet your ongoing borrowing needs

Note: Loan application fee applies
A Home Equity Line of Credit to meet your ongoing borrowing needs A chequing account and your Home Equity Line of Credit all rolled into one

12 transactions per month ($0.75 per transaction thereafter)
Overdraft protection helps cover occasional shortfalls in your chequing account, up to your approved overdraft limit

Note: Loan application fee applies
If you are in need of a loan for a specific need, i.e. car, vacation, home repair and more

Note: Loan application fee applies
ACCESS TO PRODUCT Money can be moved from your LOC to your chequing account as needed
(online & in-branch transfers)
Money can be moved from your LOC to your chequing account as needed
(online & in-branch transfers)
ATM, debit, online, in-branch Overdraft protection can be set-up on your Chequing Account In-branch transaction
(cheque, draft)
LOAN AMOUNTS & LIMITS Minimum $5000 Limit is 70% of the verified property value Limit is 70% of the verified property value Up to $4999 Limit depends on credit and purpose of loan
SECURITY Can be secured or unsecured Secured by registered mortgage Secured by registered mortgage Unsecured Can be secured or unsecured
INSURANCE
(Life, Sickness, Accident, Critical Illness)
Premiums calculated according to balance borrowed Premiums calculated according to balance borrowed Premiums calculated according to balance borrowed Premiums calculated according to balance borrowed Insurance premium can be added to the loan
INTEREST RATES As low as Mainstreet Credit Union Prime + 2% As low as Mainstreet Credit Union Prime + 0.50% As low as Mainstreet Credit Union Prime + 0.50% Current rate = 19.90% Competitive, fixed and variable rates available
PAYMENTS Interest only or 2% of outstanding balance Interest only at month's end Interest only at month's end Interest only at month's end Automatic payments set up from your account on agreed dates
*Rates subject to change
These loans may be pre-paid without penalty