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Business borrowing special

April 21 - September 30, 2021

Image depicting a business owner being provided with options to deal with competition 

For a limited time, Servus is offering business members the opportunity to receive rates as low as Prime + 0.5% for their borrowing needs as long as they bring in or currently have their core chequing account* at Servus. New accounts will also be eligible for an annual rebate on their monthly banking fees for the first year. As well, new Business Mastercard products approved during this promotional period are also eligible for a 1- year fee waiver.

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Business loan special details:


Term and Amortization:

Authorized Overdraft (Line of Credit): 1 Year Term for Promotional Rate

Term Loan: 1 Year Term for Promotional Rate

Amortization per standard guidelines

Funding Minimum:

Authorized Overdraft (Line of Credit): $50,000

Term Loan: $50,000

Overview:
  • Available for business owners for non-mortgage secured lending
  • Proceeds not to be used to repay existing Servus debt
  • Minimum Rate of Prime + 0.5%
  • Operating account must be held at Servus for promotional rates
  • Rate write-downs, term or amortization extensions, and Servus debt consolidation are not eligible for this product
  • Available for business owners for non-mortgage secured lending
  • The term Line of Credit refers to a Servus Authorized Overdraft.
    Interest Rate and Operating Account Bonus:
    • Promotional rates to be available for a term of up to one year from the time of funding.
    • New chequing accounts can qualify for 1-year free banking and select from our line of Business accounts. Maximum discount for 1 year is $1080 based on annual fees for our Business Plan 150. This offer shall apply for any amount of AOD/Term loan funded. The promotional rates, however, shall not be applicable if the above minimum or maximum thresholds are not met.
    • Available for both new and existing business members
    • To qualify for the promotional lending rates, you must have or set up your businesses core chequing account here at Servus
    • Core chequing account must have at least one of the following:
      • Your main income source deposited into the account
      • Your payroll distrusted from the account
      • 2 or more recurring bill payments
       

      *Terms & conditions apply. Offer for new funds only. Offer is subject to standard credit approvals, contact your Servus representative for more details. Servus reserves the right to change or cancel the offer at any time without notice.

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      The information you provide to the Credit Union with your application will be treated as confidential, but subject to the following: 
      a.   The Credit Union will use and must be free to use that information and any other information you give to the Credit Union for such purposes or the Credit Union considers desirable in respect of assessment, approval, completion or administration of your loan and in promoting the Credit Union's services and facilities to you. 
      b.   The Credit Union will give the Applicant Information to credit bureaus, credit reporting agencies and other financial institutions, to insurers and to Credit Union employees. 
      c.   Servus Credit Union may use the information provided by the Applicant in this form to recommend suitable products and services, should they be determined to meet the Applicant's needs. At no time will this information be made available or sold to any company not related to, or providing support services to, Servus Credit Union.


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