Greater Vancouver Community Credit Union (Company Overview ) - Canadian Mortgage Lenders
Greater Vancouver Community Credit Union, commonly referred to as GVC Credit Union, was established in 1940 in the province of British Columbia, where it continues to provide banking services to nearly 7,000 members, and has six branches in the lower mainland. Founded by a credit union study club that strove to help people recover from the Depression of 1929, GVC Credit Union strives to provide its members with superb, individualized service. GVC Credit Union focuses on banking, borrowing, and investing.
Banking.
GVC Credit Union offers a diverse selection of banking services, such as five different types of personal accounts, MemberLink Telephone Banking, MemberDirect Online Banking, ATM/Debit cards, a variety of credit cards, safety deposit boxes, night depositories, and wire transfers.
Borrowing
GVC Credit Union provides first and second residential mortgages, and allows customers to apply online. Information needed to apply for a mortgage includes: the applicants’ SIN number, employer information, monthly expenses, and a list of assets and liabilities. Interest rates range from 3.250% to 6.500%, depending on the type and length of the loan.
GVC Credit Union offers competitive fixed and variable interest rate personal loans, with flexible repayment options and no penalties for paying the loan off early. It also offers Re-Advanceable RRSP loans for customers who are looking for a second chance to rebuild their credit, in addition to traditional RRSP loans.
Another loan option offered to their customers by GVC Credit Union is a line of credit attached to their chequing account which provides the customer with overdraft protection, in addition to an easier way to obtain a loan.
Investing
GVC Credit Union offers a vast array of investing options, including:
• Term deposits
• RRSPs
• RRIFs
• RESPs
• Mutual Funds
• Online brokerage
Typical interest rates for term deposits, RRSPs, and RRIFs range from 1.500% to 2.650%, though no rate is definite until authorised by phone or fax.
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