Golden Horseshoe Credit Union

Lines of Credit*

We offer many different lines of credit for different purposes. There is the option of a student, RRSP, Christmas, and multi-purpose secured and unsecured line of credit.

Student Line of Credit

A student line of credit is a great alternative to a government loan. To be considered for a student line of credit, you must show proof that you are enrolled in a post-secondary institution (international schools included) and a parent must qualify as a co-signer on the loan. Students can borrow up to $25,000 at a competitive variable interest rate of 5.00%*. While in school, students can choose to make the minimal interest payments on their loan. Once the student is finished school, there is a 6 month grace period before payments are set-up to start paying off the loan.

RRSP Line of Credit

An RRSP Line of Credit is a great way to help you make a larger RRSP contribution without using the money in your savings account! The credit union offers a competitive RRSP line of credit rate of 4.00%* and we offer flexibility in paying back the loan. You can apply for an RRSP line of credit at any time during the year.

Christmas Line of Credit

A Christmas Line of Credit is a great way to make your holiday purchases without using your high-interest credit card. Our borrowing rate is competitive and members can take up to a year to pay it off with our convenient payroll deduction. You can apply for a Christmas line of credit starting September 1 and until December 24 of that year. If you have already set-up a Christmas line of credit with us, all you have to do is come into the branch and let us know that you would like to use it again!

*Rates are subject to change at any time. All lines of credit are subject to credit approval.