During conversion weekend, your existing stand-alone connectFirst Line of Credit or Home Equity Line of Credit will move automatically to a:

You do not need to apply for the new account or request that your balance be transferred.

Interest will be added to your Servus Line of Credit balance at the end of each month. Your required payment will be due on the first day of the following month and will cover the interest added to your account.

If your current required payment includes both principal and interest, it will change to an interest-only payment after conversion. You can continue making additional payments at any time to reduce your principal balance.

If you already have a payment scheduled to your Line of Credit:

There's nothing you need to do before conversion.

After conversion, you can make additional payments by transferring or depositing money to your Line of Credit. If you want to change your payment amount, frequency or payment method, call our Member Contact Centre at 1.866.923.4778.

A small number of business members have customized payment arrangements that require additional changes after conversion. Servus will contact affected business members directly.

Your standard interest rate, which is the regular rate that currently applies to your Line of Credit balance within your approved credit limit, will stay the same after conversion.

If your balance exceeds your approved credit limit, an annual interest rate of 31% will apply only to the amount above your limit. Your standard interest rate will continue to apply to the balance within your approved credit limit.

For example, if interest added at month-end causes your balance to exceed your approved limit, the 31% rate will apply only to the amount above the limit, not to your full Line of Credit balance.

Your Servus Line of Credit will appear in the Lending section of Servus online and mobile banking.

You can access or repay by

Transferring money to or from another eligible Servus account through online or mobile banking

Scheduling a future or recurring transfer

Depositing money directly to the Line of Credit

Visiting a Servus branch for help

Cannot be used directly for

Debit-card purchases or ATM withdrawals

Interac e-Transfers®

Self-serve bill payments

Mobile cheque deposits

To use your available credit for one of these transactions, first transfer the amount you need from your Line of Credit to an eligible Servus account.

Your existing GICs and term deposits will move automatically during conversion. Your principal, interest rate and term will stay the same.

You do not need to reopen, renegotiate or re-establish them.

You may notice that the product name looks different in Servus online and mobile banking or on your statement. This does not change the terms of your existing GIC or term deposit.

If you do not provide instructions before your GIC matures, it will automatically renew into the same type and term, where available, at the rate in effect on the renewal date.

If the same product is no longer available, your GIC may renew into a comparable product. If no comparable product is available, it will renew into a one-year redeemable GIC.

If you’d prefer a different term or another available option, please contact us before your GIC matures. You can visit any branch or call the Member Contact Centre to discuss your options.

After conversion, you’ll be able to renew eligible GICs and open eligible non-registered GICs through Servus mobile and online banking. 

You can also visit a branch or call the Member Contact Centre if you need help with your options.