Personal Loans

Our Loans

ECU - A Division of WFCU Credit Union offers both fixed and variable rates on our personal loans and we will work with you to determine which option works best for your situation. Together, we will work out a payment amount, schedule, and interest rate, that are tailored to your individual needs.

Consider a personal loan with us if you need the funds for:

  • Debt Consolidation
  • Education
  • Investments
  • A Car
Get started today by using our loan calculator to see how one of our loans can work for your lifestyle.

Distanced Learning Tech Loan Special

You have enough worries these days, being able to afford computers for back to school shouldn't be one of them.

Whether its University, Elementary, or anywhere in between, we have you covered with a Distance Learning Tech Loan starting at 2.99%. This loan can be used to purchase electronic items to assist with Education including computers, printers, headsets, and other accessories.

  • 2.99% Fixed
  • 1 Year Term
  • Minimum $1,000 - Maximum $5,000

To apply, contact us at

Terms and Conditions:

*APR is Annual Percentage Rate. Rates are subject to change without notice. The minimum loan amount that will be approved at the discounted rate is $1,000.00 and a maximum loan amount of $5,000.00. The discounted rate is subject to credit approval, joint applicants may be required. Any individual who is not a member of ECU - A Division of WFCU Credit Union must become a member in order to apply for this loan special. Membership with the Credit Union is open to anyone, upon investment of a $5.00 member share which is required to establish membership with ECU - A Division of WFCU Credit Union. Borrowed funds are to be used to purchase electronic items to assist with Education including but not limited to computers, printers, headsets, accessories, etc. Additional terms and conditions may apply.

Debt Consolidation

Many of us have been in a situation where money is tight and it can be a challenge juggling the bills. The knowledgeable Lending Staff at ECU - A Division of WFCU Credit Union can assist you to lower your total interest cost, while paying off your debt faster by consolidating. A consolidation loan can benefit you in many ways such as:

  • Reducing your commitments to one, easy-to-manage payment
  • Reducing the total cost of your debt with a loan or line of credit at much lower rates
  • Leveraging the equity in your home, with a MERITline™ home equity loan for further savings and future flexibility
  • Reducing your financial stress by combining all of your debts in one place, giving you a clear picture of the final payout date
Generally credit card rates can be quite high; the illustration below shows you the actual effect. Let’s assume a total debt of $10,000, comparing credit card debt to an ECU - A Division of WFCU Credit Union consolidation loan and a MERITLine®:  

Credit Card 19.90* MERITLine® at 3.75%* Loan at 10%*
Minimum Payment Each Month Fixed Amount Each Month Fixed Amount Each Month Fixed Amount Each Month
Time to pay off 25 years & 1 month 4 years & 1 month 3 years 3 years
Original balance $10,000 $10,000 $10,000 $10,000
Interest Paid $12,104.17 $4,677.92 $588.68 $1,616.12
Total Paid $22,104.17 $14,677.92 $10,588.68 $11,616.12

*Average estimated rates.


An ECU - A Division of WFCU Credit Union Student Loan is ideal for post-secondary education costs such as tuition, living expenses, computer equipment and books. We know school is expensive, so our goal is to make things as cost-saving and easy as possible for you with all of our student services including:

What are the benefits of an ECU - A Division of WFCU Credit Union Education loan?

  • Saves you interest with rates as low as ECU Prime
  • Funds can be withdrawn as needed so you don't pay unnecessary interest costs
  • Affordable interest-only payments
  • Repay part or all of the outstanding balance whenever you want
  • Helps establish a credit history


Most of us envision a comfortable and financially secure retirement, so you must ask yourself, “Will I have enough money to maintain my current lifestyle and do the things I want when I am no longer employed?” Other programs and plans can supplement a portion of your future income, but those funds may not be sufficient to achieve the retirement lifestyle that you dreamed about. An RRSP can help you maximize your savings and help you realize your retirement objectives.

We offer RRSP loans with the following features:

  • Interest rate as low as ECU prime
  • Terms of up to 5 years
  • 1st payment deferral of up to 90 days

To illustrate the benefit of borrowing for an RRSP:

Investment at 5%* Loan at 4.20*
Original balance $5,000 $5,000 $5,000
Term 10 Years 25 Years 1 Year

Interest Paid


$3,000 $12,000 $114.48
Total Value $8,000 $17,000 $5,114.48

*Average estimated rates.

This example assumes you do not continue to pay into your RRSP. If you pay the loan back sooner, your interest cost will be even less. One of the most effective ways to do this is to put the tax refund created by the RRSP contribution toward repaying the debt. Your first payment deferral will allow sufficient time to report the contribution for the taxation year and to realize the tax savings, before you have to start making payments.


Our auto loans can help you finance the purchase of a new or used car.

Our auto loans offer:

  • Fixed or variable rates

  • Flexible payment options

  • Amortizations up to 7 years

  • Payment protection insurance available for Life, Disability and Critical Illness coverages
Visiting a branch to get started with your auto loan? Use the checklist below to make your appointment run as smoothly as your new car.

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