Coast Capital Savings Credit Union (Company Overview) - Canadian Mortgage Lenders
Coast Capital Savings Credit Union was founded during the Depression, and is one of the largest credit unions in Canada. They serve the Metro Vancouver, Fraser Valley, and Vancouver Island regions of British Columbia, and offer personal banking, mortgages and loans, business banking, and multiple types of insurance.
Coast Capital Savings Credit Union offers mortgages to qualified customers, with interest rates ranging from 2.10% to 5.45% depending on the type and length of the loan. Customers interested in obtaining a mortgage need to have a consistent salary deposited into a Coast Capital Savings account for more than two months, or they need to bring their T4, T1G, or NOA, and current pay stub showing year to date income, in addition to the verification of their assets and proof of current homeowners insurance policy (if borrowing against current home) or real estate contract (if buying a new home).
Term personal loans are offered for a length of 1 to 10 years, and will have a fixed or variable interest rate depending on the customer’s risk profile. Payments can be made on a weekly, biweekly or monthly basis.
Coast Capital Savings Credit Union offers same day approvals, with approved credit, on RRSP loans and requires no repayments for the first 90 days. RRSP loans can be applied towards RRSPs, term deposits or mutual funds. Interest rates depend on the customer’s risk profile.
Lines of Credit
Coast Capital Savings Credit Union lets customers attach lines of credit, with limits starting at $5,000, to their personal accounts. Rates and approval are based on the customer’s risk profile. Interest is only charged on outstanding balances, and customers can easily re-advance the loan.
Businesses can take out mortgages, term loans, or finance equipment. Coast Capital Savings Credit Union also offers insurance, term deposits, and mutual funds to businesses, as well as savings accounts, credit cards, and merchant services specifically designed to suit their needs.
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