3990 Highway 3,
Rock Creek, BC
V0H 1Y0

  Tues – Fri: 10am – 4pm
Sat: 10am – 2pm
Sun – Mon: Closed

  Ph. 250.495.6522
Fax. 250.495.3363
Email. contact@ocubc.com

Loans & Mortgages


Osoyoos Credit Union has been providing a variety of mortgage plans to its members for seventy-five years. These include open and closed mortgages, variable or fixed rates, with a variety of terms and amortizations. Payments can be made weekly, bi-weekly, monthly, or semi-monthly, at the request of the member. Our closed mortgage terms allow you to prepay a percentage of the original principal balance in each calendar year, subject to the terms of the mortgage agreement. Canadian Mortgage and Housing Corporation insured mortgages available. Life and disability insurance is available for your protection.

Mortgage + Home Improvement Loan

If you don’t have the extra money to tackle home improvements in advance, Purchase Plus Improvements (PPI) can fund your renovations upfront!Start by securing a PPI-qualifying mortgage from Osoyoos Credit Union. You can qualify with a down payment of as little as 5% of the home’s purchase ($400,000) plus renovation costs ($30,000). In this case, that would be a down payment of $21,500. Your renovation costs are disbursed once the work is complete, and repayment is included in your manageable, monthly mortgage payments!

Pre-Approved Mortgages and Loans

Pre-approved mortgages and loans enable you to secure the financing of significant purchases such as a home or automobile before finalizing the purchase. This allows you to clearly understand what you can afford to spend, provides leverage during negotiations and gives the purchaser “peace of mind”. The pre-approved period is for a set time so that members know exactly what their interest rate and payments will be.

Mortgage Secured Line of Credit

A mortgage secured line of credit enables you to use the equity you have acquired in your home to purchase investment property, top up your RRSP and many other options. The line of credit requires monthly interest only payments calculated on the closing daily balance and charged monthly, directly to the account. Available subject to regular lending criteria.

Student Services – Educational Line of Credit

Designed specifically to assist in covering the cost of attending a postsecondary institution. Funds can be used for living expenses, tuition and books. The student and /or co-signer will be required to meet the normal lending criteria required by Osoyoos Credit Union. The line of credit will require monthly interest payments during the time the student is attending a postsecondary institution. The line of credit will bear an interest rate of Prime. Within twelve months of completion of studies, the line of credit will be converted into a term loan with regular monthly payments. The interest rate will be changed to prime plus 1%, with monthly payments amortized over a maximum term of 15 years. These loans will be reviewed annually and payments are to be adjusted annually as required to ensure payment in full of the loan within the original amortized term.

Personal Loans

Personal loans can be made for a variety of purposes. They may be secured or unsecured. We offer competitive rates which can be either fixed for the life of the loan or variable. Our personal loans allow you the flexibility of paying out the loan, in whole or in part, at any time without penalty. Payments can be made weekly, bi-weekly, semi-monthly or monthly, with terms and amortization available to meet our member’s needs. Credit life and disability insurance is available for pennies a day. These options, combined with our dedication to member service, make our personal loans a very attractive option. If you have a need, we have a loan to suit you!

Line of Credit or Overdraft Protection

A revolving credit, once approved, can fluctuate within the authorized limit. It is attached to a member’s chequing account, and is automatically accessed through cheques, ATM, in-branch withdrawals, POS, Global Payment Card or pre-authorized debits, all of which will increase the balance while deposits will reduce the balance. Interest is calculated on the closing daily balance and charged monthly based on the amount utilized, not the approved amount. Available on both personal and commercial accounts. Great overdraft protection!

Credit Cards

For information on credit cards available though Osoyoos Credit Union, please visit:


View information on: Mortgage Rates, Term Deposits (Canadian), Term Deposits (US), Special Term Deposits, Members Choice, Savings Plans, Chequing Deposit Rates and Registered Product Rates.