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Lending Services

AGRICULTURAL LOANS

Loans for any farm purpose including machinery, operating, livestock and land

Operating loans available as a "Line of Credit" which charge interest on the closing daily balance

NO ACCOUNT MAINTENANCE FEES

Competitive rates

Life insurance available on farm loans

Computer version of AGRI-PAC available to farm members, free of charge

Farm loan applications taken on-farm, by appointment, if requested

BUSINESS LOANS

Loans for any business purpose including land, building and equipment

Operating loans available as a 'Line of Credit' which charge interest on the closing daily balance

Competitive rates

Life insurance available on business loans

PERSONAL LOANS

Personal loans for every need, including cars, vacations, furniture, loan consolidations and Minnedosa Credit Union Students Loans

Loans are open to prepayment or payout at any time without penalty

Life and disability insurance available

Payment options to best suit you:
· Pre-authorized transfers from Minnedosa Credit Union account to your loan
· Electronic fund transfers from any financial institution to your loan.

Fixed and variable rate loans available

Competitive rates

An itemized statement of transactions is printed monthly

LINES OF CREDIT

Instant credit available

Provide overdraft protection

Interest is lower than a charge card and calculated on your negative daily closing balance

An itemized statement of transactions is printed monthly

MORTGAGE LOANS

First and second mortgages available for personal, commercial, and agricultural purposes.

Payment flexibility - weekly, bi-weekly, monthly, semi-annually, annually

Prepayment options - 10% (of the outstanding balance) pre-payment on anniversary date of mortgage

Amortization period up to 25 years on personal mortgages

Amortization period up to 20 years on agricultural and commercial mortgages

CHMC Insured Mortgages - up to 95% financing - on personal residence

P.I.T. payments - taxes can be added to your principal and interest payment and the Minnedosa Credit Union will pay your property taxes for you

Life insurance is available

Itemized statements printed monthly

Minnedosa Credit Union will pay $200 towards your legal fees for 1st time mortgages

Local merchants coupons given out with mortgages

MINNEDOSA CREDIT UNION STUDENT LOANS

Loans up to $3,500 available each year to a maximum of $5,000 per family

Total maximum loan of $14,000/student or $20,000/family

Low interest rates

Interest accrues and is due once a year

Available for colleges, university, trade schools across Canada

Co-signature of parent(s) required

Repayment of up to 84 months starts 6 months after graduation, immediately if withdrawal from school occurs