Investment Loans

Save Your Money, Use Our Money and Beat The Taxman

East Coast 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, 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 East Coast 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.