As a student pursuing a post-secondary education, trade, or professional designation, you have a lot of things to think about!

Where to live, what transportation you’ll use, and how to manage your course load. When it comes to financial matters, we can help to take a load off. A student line of credit or professional line of credit, selecting the right credit card for your pocket, or making sure you have a chequing and savings account to meet your needs, are products that can help.

Student Line of Credit

Eligibility

Applicant must be a Canadian citizen or a landed immigrant and enrolled in a post-secondary level course leading to a degree, diploma, or certificate, studying on a full-time or part-time basis.

Purpose of the loan

To cover disbursements for education purposes, including tuition fees, books, school residence, food, lodging, public transportation, purchase of computer and related equipment and software.

Features

$1,000 to $10,000 per academic year.
Variable rate at Prime plus 1%

Repayment

While attending school, the student/ co-signer must make payment of accrued interest monthly by pre-authorized transfer from an SVCU account.
Upon graduation, the Student Line of Credit will be converted to a demand loan (of a maximum 10-year term) repayable by the student/co-signer in monthly installments, with payments commencing within 12 months.

Budget

At the time of application, we require:

a budget of income and expenses to be used to finance each year of education; and
in the final school year, a budget projecting income and expenses after graduation.

Confirmation

Annually, Swan Valley Credit Union requires written confirmation of enrollment or acceptance from the institution where the student is enrolled.
Confirmation is also required within 60 days of the official start date of the academic program each year, until graduation or termination of studies has been confirmed.

Students may need the financial backing of a co-signer in order to meet all standard credit requirements.

Professional Line of Credit

Repayment

Swan Valley Credit Union recognizes that students seeking a professional designation will be faced with higher tuition fees, living expenses and books. Students will pay interest only while they are attending an accredited university or college and for up to 12 months following graduation or end of residency.

Programs

Medical Line of Credit (Medical Doctor/Dentistry) Up to $50,000 annually with a maximum credit limit of $200,000.
Professional Designation Line of Credit. Designations that qualify up to $20,000 Annually with a maximum credit limit of $80,000
- Accounting (CA, CGA, CMA)
- Chiropractor
- Engineering
- Law
- Masters of Business Administration (MBA)
- Optometry
- Pharmacy
- Physiotherapy/Psychologist
- Veterinary Medicine

Professional designations other than those listed above MAY qualify for higher limits than granted in SVCU’s Student Line of Credit Program(maximum $10,000/year).

Approval of financing for these requests will be subject to approval, up to $15,000 annually to a maximum of $60,000.

Collabria Mastercard®

Collabria Mastercard® offers our students several options to meet their financial needs while pursuing their educational goals and once completed. Each card comes with a unique set of features and benefits, applying is easy! For details on each card, please select the link!

Collabria Mastercard® offers you many options to support you on your financial path! Each card comes with a unique set of features and benefits, like extended travel insurance or warranty on the items you purchase. Applying is easy! For details on each card, please select the link!

Classic Mastercard^®- Credit card convenience. Simple, easy and smart. Learn more, here.

Cashback Mastercard^®- Earn cash rewards for everyday purchases. Learn more, here.

Centra Gold Mastercard^®- A perfect balance of premium rewards and low rates. Learn more, here.

World Mastercard^®- A wide world of privileges. Enjoy 15,000 Welcome Points when you sign up for a new card. More details, here. Must have Minimum Annual Income of $60,000 individual or a Minimum Household Income of $100,000 to qualify.

Cash Back World Elite^® Mastercard^® - NEW, Everyday rewards that move you. Exclusive Benefits! Enjoy 30,000 Welcome Points when you sign up for a new card between August 15 to November 15, 2023. More details, here.

Must have Minimum Annual Income of $80,000 individual or a Minimum Household Income of $150,000 to qualify.

US Dollar Mastercard^®- Carry the card that's as rewarding as your US travel. No foreign transaction fees for US purchases, more details, here

Student

Pursue your passion!

Student Line of Credit

Professional Line of Credit

Collabria Mastercard®

Cash Back World Elite® Mastercard® - NEW, Everyday rewards that move you. Exclusive Benefits! Enjoy 30,000 Welcome Points when you sign up for a new card between August 15 to November 15, 2023. More details, here.

Cash Back World Elite^® Mastercard^® - NEW, Everyday rewards that move you. Exclusive Benefits! Enjoy 30,000 Welcome Points when you sign up for a new card between August 15 to November 15, 2023. More details, here.