
Mortgages
Your home is one of the biggest investments you will ever make, so make sure you speak with an ECU – A Division of WFCU Credit Union mortgage specialist before taking the plunge. Purchasing property can be complicated, but we are here to make the process simple and as straight-forward as possible for you.
Whether you are buying your first home, refinancing, or looking for a new home, our mortgages offer better rates, prepay options, same-day approvals and the expertise to design a custom solution that’s right for you.
The ECU Difference
- Get pre-approved online, over the phone, or in one of our retail locations
- Convenient payment options based on your needs – weekly, biweekly or monthly
- Gain peace of mind with optional payment protection insurance, including life, critical illness, disability, or loss of employment insurance coverage
Current Mortgage Specials
One-Year Fixed Mortgage Special 4.99%*
Whether you are in a high variable-rate mortgage and need help getting through the next year, or have a mortgage coming up for renewal and are seeking an alternative to locking into high rates with a bank, we hear you and are ready to help with our limited-time 4.99% one-year, fixed-rate mortgage offer.
Five-Year Fixed Core High-Ratio Mortgage Special 4.99%*
A favourite for first-time home buyers, consider a fixed-rate mortgage that offers:- 25-year amortization
- Insurance through CMHC or Sagen
- Increase your payment by 10% each year, or repay up to 10% of the mortgage amount
- No double payment options
- Not available on refinance or renewal
Visit ECUmortgages.ca for more information.
Members with a down payment greater than 20% will benefit from the security of a fixed interest rate while enjoying flexible repayment options. Features include:
- 30-year amortization
- Fixed rates on terms from 6 months up to 7 years
- Interest rate guaranteed for 90 days when purchasing and for 120 days for home construction mortgages
- Flexible prepayment privileges to help you pay down your mortgage faster
- Prepay up to 20% of the original mortgage balance on the anniversary date
- Increase your payment amount by up to 20% each year on the anniversary date
- Double up the regularly scheduled payment amount
- When you sell your home, take your mortgage rate and term with you to your new property, or have the buyer assume your existing rate and term
- Second mortgages at first mortgage interest rates, with sufficient equity
A favourite for first-time home buyers, members with a down payment of less than 20% will benefit from this fixed-rate mortgage that offers:
- 25-year amortization
- Insurance through CMHC or Sagen
- Increase your payment by 10% each year, or repay up to 10% of the mortgage amount
- Not available for refinancing or renewals
Members will enjoy the same benefits as the Fixed-Rate Mortgage but with the bonus of cashback to help pay for furniture, redecorating, moving expenses, and more. Features include:
- Get 3% cashback on a 3-year fixed term, 4% on a 4-year fixed term, or 5% on a 5 or 7-year fixed term
- Minimum $80,000 new mortgage to be eligible for cashback
- Maximum cashback amount of $7,500
When you combine a mortgage with a Home Equity Line of Credit, you gain access to additional funds at a low interest rate.
Borrow against the equity in your home and enjoy the flexibility and freedom of being covered for both life’s opportunities and surprises.
The house you buy may not always be the home you envisioned, but with MortgagePlus Improvements, we can make your new house your dream home.
MortgagePlus Improvements is the perfect alternative to a secondary loan. Offered at the same rate as our fixed-rate, 5-year mortgage, borrow more than the home purchase price for a new kitchen, a new bathroom, or a new backyard oasis!
Enjoy the opportunity to do renovations now, increasing your home’s value and overall appeal.
A mortgage with ECU – A Division of WFCU Credit Union means you qualify for an array of member-only benefits for as long as your mortgage remains with us. Enjoy over $2,000/year in savings on:
Daily Banking Discounts
- Reduced service charges on our Diamond Chequing Account: free for one year; 50% discount after one year
Automatic LOC Approval
- Automatic approval of an ECU Line of Credit for up to $10,000, with a 1.5% discount off the final calculated qualifying rate
No Renewal Fees
- Mortgage renewal fees are waived for the life of the mortgage
Overdraft Protection
- Automatic approval for up to $1,500 of Overdraft Protection
**Terms and conditions apply
CU LINE Personal Line of Credit is a pre-approved loan that is there when you need it. It provides convenient access to credit to travel, purchase a second car or vacation home, finance a child’s education or to take advantage of an investment. Once your CU LINE Personal Line of Credit is established, you can draw up to your available credit limit in whatever amount you require to meet your needs.
There is no cost for you to have a CU LINE Personal Line of Credit ready and available. You are charged monthly interest only on the amount you use, for the time you use it. You can be eligible for a CU LINE Personal Line of Credit, starting at $5,000. Your CU LINE Personal Line of Credit interest rate is based on your personal financial situation, the security you provide and our Prime lending rate. If your CU LINE Personal Line of Credit is secured by credit union deposits, you will benefit with a lower interest rate.
Convenient Access to Credit – You can use your CU LINE Personal Line of Credit to gain control and flexibility in the management of your finances.
Flexible Payments – Interest is charged only when you use your CU LINE Personal Line of Credit. There are no monthly or annual fees charged for maintaining your CU LINE Personal Line of Credit. When you use your CU LINE Personal Line of Credit, making payments is very flexible. You only pay the monthly interest on an outstanding balance as well as fluctuate the balance down by 20% per year.
Insurance Protection – You can protect your CU LINE Personal Line of Credit with optional creditors’ life insurance. You pay only for coverage on the balance outstanding, at affordable rates.
Record Keeping Made Easy – Your CU LINE Personal Line of Credit is included as part of your monthly statement with all your other accounts at ECU – A Division of WFCU Credit Union. All CU LINE Personal Line of Credit transactions for the month will be summarized for easy record keeping.
Manage Your Funds From Anywhere – Our automated telephone banking, online and mobile banking services are designed to help you conveniently manage all your accounts at ECU – A Division of WFCU Credit Union, including your CU LINE Personal Line of Credit. Obtain balances on all your accounts, transfer between accounts and review transactions processed, anywhere, anytime, using a touch-tone telephone or your personal computer or mobile device.
CU LINE Personal Line of Credit Provides Value – You can save money on interest because your CU LINE Personal Line of Credit may offer lower rates compared to other lending products. There is no application, registration or annual fees.
Transfers are Easy – We will take care of all the details necessary to transfer a personal line of credit from another institution to your new CU LINE Personal Line of Credit at ECU – A Division of WFCU Credit Union.
Conveniently Manage Your Finances – ECU – A Division of WFCU Credit Union makes it easy for you to manage your finances effectively and efficiently. When you are ready to use your CU LINE Personal Line of Credit, here is what to do: Transfer, at no charge, the required amount from your CU LINE Personal Line of Credit to your Eva Account, using our automated telephone banking, mobile banking, online banking, our ATMs, at one of our retail locations or over the telephone with one of our representatives. Then you can make your purchase using your cheques or your debit card for debit transactions.
When this is inconvenient, you can make your planned purchase directly from your CU LINE Personal Line of Credit by using your CU LINE Personal Line of Credit cheques, provided to you at no charge, and pay a nominal fee for each cheque that has been processed. In addition, you can make a withdrawal from your CU LINE Personal Line of Credit, for a nominal fee, using our ATMs or at one of our retail locations. When there are unexpected shortfalls in your Eva Chequing, the credit union, for a fee, will transfer funds from your CU LINE Personal Line of Credit to cover the shortfall, so you will avoid the cost and inconvenience of being declined for your transaction.
In addition, if you do not want to manage your funds this way, you can apply for CU Overdraft Protection™ service, as security for those situations when you have an unexpected shortfall in your chequing account. There is no charge for the CU Overdraft Protection service, until you use it.
ECU – A Division of WFCU Credit Union’s Student Line of Credit assists students in financing their education. With the Student Line of Credit, you’re approved for the total amount of money you need before the school year starts.
The amount of your Student Line of Credit is flexible and you can be approved up to a maximum of $10,000 a year for a maximum of four years for full-time students.
There is no cost to set up your Student Line of Credit and no cost until you use it. While you’re a student and for up to one year after graduation, you pay monthly interest only on the amount you’ve used, for the amount of time you use it at a great rate of Prime plus 2.5%.
One year after you’ve graduated, your Student Line of Credit will be converted to a personal loan at the same great rate of Prime plus 2.5%. Once approved, you can use up to your available credit limit in whatever amount you require.
When you’re ready to use your funds, you use your Student Line of Credit in conjunction with your chequing account. You can transfer, at no charge, the required amount from your Student Line of Credit to your chequing account using our automated telephone banking, mobile banking, online banking service, one of our retail locations or by calling us to complete a telephone transfer. You can then make your purchase using your Student cheques or your debit card for Interac® Debit transactions.
When this is inconvenient, you can make your transaction directly from your Student Line of Credit using our ATMs or at one of our retail locations.
For easy record keeping, your Student Line of Credit is included as part of your monthly statement along with your other accounts.
You can protect your Student Line of Credit with optional creditors’ life insurance. You pay only for coverage on the balance outstanding, at affordable rates.
ECU – A Division of WFCU Credit Union’s MERITLine lets you use the equity in your home to borrow at preferred rates. With one application and one-time legal and appraisal fees, you can increase your buying power.
Our MERITLine lets you establish a secured, personal line of credit, with no maintenance fees. Once it’s established, it provides a long-lasting solution for your future borrowing needs. Whether you plan to take a vacation, purchase a car or complete home renovations, your MERITLine Home Equity Line of Credit is available for use.
It’s Easy! ECU’s MERITLine makes borrowing a great deal easier. With our flexible repayment options, monthly interest-only payments are possible. You can easily access your MERITLine home equity line of credit through cash withdrawals or special cheques.
Personal Loans
Get credit for your ideas… and choose a payment schedule to suit your budget. Weekly, bi-weekly or monthly payment options allow you to match your payments to your pay schedule. Automatic transfers from your account or payroll deductions are convenient options to make repayment a breeze.
Whether you choose a fixed or variable interest rate, you’ll receive the best rate available based on the security provided. Extra payments can be made at any time without penalty and will reduce your interest costs.
Work with our lending professionals to choose the loan that provides the best interest rate and the most practical terms. You can be pre-approved for your loan. You can shop in confidence knowing the money is available when you are ready to act on your idea.
We can do all the paperwork to pay off your other debts and combine them into one convenient payment.


Credit Cards
ECU – A Division of WFCU Credit Union is proud to offer you a competitive suite of credit cards. We have partnered with Collabria to provide a variety of options made specifically to suit your needs. Whether you want to receive cash back on your purchases, you’re a student, or perhaps you’re an avid traveler; we have the right card for you.
Reward yourself with one of our flexible Collabria Visa credit cards today.
With a 6.49%* auto loan from ECU – A Division of WFCU Credit Union you can reduce your monthly payment and save $1,000s on your new or used car.
Whether you’re buying new, used, or looking to refinance, our auto loans have the features you’re looking for, including:
- Terms up to 96 months
- Weekly, bi-weekly or monthly payment options
- No early repayment penalty fees
1-888-767-9535
* The Annual Percentage Rate (APR) of 6.49% is for a new or used vehicle, 2017 model or newer. APR assumes no fee(s) apply. Rate subject to change without notice. Terms and conditions apply.


New to ECU - Personal Loans Made Easy!
XpressLoan™ is the perfect way to fund your dream wedding, future investments or pay off your high interest debts.
Our quick, easy, hassle-free, online application process gets you approved and money into your account instantly!
Apply online today at www.xpressloan.ca.
RRSP Loans
Maximize Your Unused RRSP Contributions
If you haven’t always taken advantage of all your RRSP contributions each year since 1991, you can carry forward the unused portion indefinitely. Our RRSP Loans and Maximum RRSP Loans can help you top up your account.

Don’t have the funds available for this year’s RRSP contribution? No problem. ECU – A Division of WFCU Credit Union offers both one-year and two-year RRSP loans that can help!
Take advantage of our great rates. One-year RRSP loans provide a Prime Rate of interest fixed for one-year. Our two-year RRSP loans offer a Prime Rate + 1% fixed rate for two years.
RRSPs are the best way to save for your retirement and save on your taxes at the same time.
To take advantage of all your RRSP contributions, even any unused contribution since 1991, ECU – A Division of WFCU Credit Union has introduced the Maximum RRSP Loan.
With our Maximum RRSP Loan, you can borrow up to $100,000 at a rate of Prime +1/2% and take up to 7 years to repay. In addition, you can defer payments for 60 days while waiting for your income tax refund. The longer repayment period means more affordable monthly payments. With all our loans, you can repay all or part of your loan at any time. It makes sense to take out a Maximum RRSP Loan.
For example, with a $25,000 RRSP contribution:
RRSP Loan Costs | RRSP Interest Earned |
$1,671.79 Based on an interest rate of 4.25% and 36 monthly payments of $740.88 | $1,922.27 Based on a 3 year fixed term RRSP deposit @ 2.50% |
PLUS, reduce $7,500 on your income tax, based on $300 per $1,000 RSP contribution, assuming a 30% tax bracket.
Borrowing for Commercial Members
ECU – A Division of WFCU Credit Union offers a variety of borrowing products and services specifically tailored to businesses. Receive the customized solutions you need to ensure the success and growth of your organization.
For more information on our suite of borrowing products available to our commercial members, contact a Commercial Services Representative today.
*The promotional rate of 4.99% per annum is for a closed, fixed, one-year term mortgage. The promotional rate of 4.99% per annum is also available for a closed, fixed, five-year term Core Mortgage. The Core Mortgage rate is only available to members for the purchase of an owner-occupied property, with less than 20% down payment, who are eligible for and purchase mortgage default insurance and meet other conditions. Owner-occupied mortgage loan applications brought through a Mortgage Broker are not eligible. Other rates and terms are available. Rates are subject to change at any time. Visit ECUmortgages.ca for complete details.