Your Recruit Loan
It's easy and fast to apply for your loan online!
I can’t recommend the police credit union enough. From day one of my policing career, I have used them for all of my personal banking needs and the big banks don’t even come close to the level of care put into their customer service. I will happily continue to bank with them for years to come.
Kaelen, Peel Regional Police Services
Membership eligibility
To be eligible for membership with The Police Credit Union the following requirements must be met:- You must be 18 years of age or older and a resident of Ontario
- You must be an employee or retiree on pension from a police service in the Province of Ontario. Membership is also available to all employees of related police associations and police organizations in the Province of Ontario. Family members are welcome too.
- Valid ID (Passport, driver's license, government issued ID)
- Previous Address if at current address less than two years
- Previous Employment if at current employer less than two years
- Annual Income from all sources
- Assets and Liabilities (only required if applying for a lending product)
READY TO JOIN THE POLICE CREDIT UNION?
CHOOSE FROM OUR REWARDS OR NON REWARDS OPTIONS SHOWN BELOW
Joining the Rewards Program
To join the Rewards Program, simply direct your full payroll or pension deposits to your Rewards Chequing account and process your day to day transactions for free. Or choose the Rewards Loyalty or Premium Rewards Chequing Accounts where depositing your payroll is optional but for a low monthly fee enjoy unlimited day to day transactions in addition to other perks shown below. You will also get our lowest interest rates on borrowing and our highest rates on savings and investments.
A chequing account will automatically be opened for all new members to facilitate the payment of your loan, your Financial Services Officer will reach out to discuss our chequing options and ensure we open the chequing account that best suits your chequing needs.
RECRUIT LOAN PACKAGES
| Rewards Package Most Popular |
Regular Package | |
|---|---|---|
| Loan Amount $ | Up to $15,000 | Up to $15,000 |
| Admin Fee $ | No | $145 |
| Interest Rate | 7.25% | 9.25% |
| Life Insurance on Recruit Loan | 6.25% | 8.25% |
| Disability Insurance on Recruit Loan | 6.25% | 8.25% |
| Fully Insured Life & Disability on Recruit Loan | 5.25% | 7.25% |
| Overdraft Protection | Up to $1,500 | - |
| Line of Credit (Final approval is based on meeting standard credit approval criteria) |
$5,000* | - |
| Chequing Account | Rewards | Pay As You Go |
| Full Pay Into The Police Credit Union - Use as Primary Account | Yes | No |
| No Monthly Fee/No Minimum Balance | Yes | - |
| Unlimited debit transactions including pre-authorized items, bill payments, ATM withdrawals and deposits via the Exchange Network | Yes | - |
| 4 Free Interac E-Money Transfers | Yes | - |
| No Loan Application Fee & Discount on Loan Rate | Yes | - |
| Other Benefits | ||
| Savings Account Boost | 0.10% | - |
| GIC Rate Boost | 0.10% | - |
| Loan Rate Discount | 1.00% | - |
I want to apply for: |
Rewards Recruit Loan |
Regular Recruit Loan |
Have these items ready for sign up
Valid ID
Can be a passport, driver's license or government issued ID
Previous Address
If you are at your current address for less than two years
Previous Employment
If you're at your current employer for less than two years
Annual Income
Please have your annual income from all sources
Assets and Liabilities
This is only required if applying for a lending product
You will need approximately 30 minutes to complete the process, not to worry if you run out of time, as your application can be saved and completed later. If you need assistance, please call our Member Solutions Centre at 1-800-561-2557.
WHO WE ARE
