We work with members to ensure they can take advantage of the best possible lending rates with terms that are affordable, flexible and suit their individual needs.

Ways You Can Borrow

Lakeland Credit Union offers a diverse range of borrowing products for members with competitive rates and a profit-sharing program you won’t see at any big bank. Whether you’re looking for an authorized overdraft on your chequing account, a mortgage or anything in between, our personal lenders will find the right products for you, with a payment schedule that works in your favour.

Personal loans

Financing anything important to you, from a vacation to a new truck.

View of a house from the front yard


Customized financing options for your big purchases.

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Lines of Credit

The convenience of knowing you have credit pre-approved for a variety of purchases.

RRSP Loans

Maximizing your annual RRSP contribution.

Do you know your credit score?

Lenders may consider your credit score as a factor in determining your loan rate and eligibility. Do you know your credit score and the factors affecting it?
Calculating your Credit Score

The following factors are taken into account when calculating your credit score:
    • Your payment history
    • The amount you owe
    • The length of your credit history
    • The types of credit you use
    • and any recently acquired credit
Did you know, that repeated credit checks in a short period (e.g. applying for several credit cards or loans at once) can often have a negative effect on your credit score?
Credit Score Ratings

Credit reporting agencies may present your credit score in a number of ways:
    • Scale of 1-9, where 1 is paid in full on time and 9 is never paid
    • Use a payment chart
    • A payment scale
Checking your credit score and report yourself once or twice a year on the Equifax site (charges apply) can help you know your eligibility and spot early signs of identity theft and inaccuracies. 

LCU checks credit scores through Equifax.

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