Insurance is available from CUMIS Insurance to protect you and your family from a financial loss due to unforeseen circumstances. CUMIS Insurance offers comprehensive insurance products for Credit Union members on all types of debt! Available products include Life, Critical Illness, Disability, and Loss of Employment Insurance.
Looking to grow your business, but don’t have the cash available? We can provide you with financing for new equipment, inventory, additional business purchases, or any other need you may have.
- Interest rates will vary depending on the collateral used to secure the loan.
These loans can be used to purchase businesses and buildings, as well as for construction, renovations, expansions and many other needs and expenses.
- Variety of repayment options with very competitive interest rates.
- Pre-approvals are available to help make your purchasing decision less stressful knowing you have the financing approved before making an offer.
Lines of Credit
These loans are for the expenses you incur during your normal business day that may not be timed with your cash inflows.
- Lines of credit are an excellent product to cover the short term expenses that may occur during the management of your business.
- The loan is attached directly to your chequing account and each deposit reduces the outstanding amount.
- Interest is accrued on the amount utilized daily and charged at the end of each month.
- Your available funds are accessible wherever and whenever you need them!
While these loans are similar to a line of credit with respect to the way interest is charged, there are a few differences.
- These loans are not attached directly to your account and can be advanced by calling LCU.
- The loan can be advanced repeatedly up to the credit limit and paid down at any time.
- Payments are typically based on a 5 year amortization with flexible payment frequencies to match your cash flow.