Get up to $15,000 in your first year completely interest free!*
With WFCU/ECU’s Student Line of Credit, students are eligible for up to $15,000 per year for a maximum of four years. After year one, pay monthly interest only on the amount you used, for the amount of time you used it. Enjoy the extra cash flow while in school and up to one year after graduation.*
With a Line of Credit, you gain access to a pre-approved amount which you can draw on at any time and pay back on a timeline that works for you. As the money is repaid, you can borrow up to that limit again.
Plus, responsibly managing a Line of Credit helps you to establish your credit rating and build your financial future.
The Perfect Package
Our Student Line of Credit works seamlessly with these products – all designed to further support you with your everyday banking needs while in school.
Youth Chequing AccountAvailable for members aged 13 to 25, benefit from a competitive interest rate and no fee, unlimited debits, withdrawals, bill payments, and INTERAC e-Transfers®. No minimum amount is required to operate the account, and students with a WFCU/ECU Line of Credit can transfer funds into their chequing account anytime, at no charge.
Visa Classic CardPerfect for students living away from home and needing a little extra financial security, WFCU/ECU’s Visa Classic Card has a low interest rate and no annual fee. Additional benefits include zero liability fraud protection, purchase protection, extended warranty, and mobile device insurance.
Achieve Academic Success
For guardians looking for more ways to support your student’s success, WFCU/ECU has you covered with flexible options for borrowing and investing.
Student LoanGet approved for a loan to help fund your student’s education and benefit from a competitive interest rate and flexible repayment options that suit your schedule and timeline.
Registered Education Savings Plan (RESP)Save for your child’s post-secondary education with a government-approved investment vehicle. Income earned under the plan is not taxed until it’s withdrawn. Beneficiaries may also be eligible for related government benefits.
Explore Every Avenue
Considering all the expenses involved in post-secondary education, the price tag can often feel overwhelming. Remember, there are many programs in place designed to support you on your journey if you’re willing to do a little homework.
Apply to the CU Succeed Youth Bursary open to Ontario resident, post-secondary students with demonstrated financial need and community involvement.
*0% interest for 1 year then interest at prime rate plus 2.5% applies. The maximum credit limit per year is $15,000 to a maximum credit limit of $60,000 in 4 years. Pay only monthly interest while in school for a maximum of 5 years. After 1 year following the end of full-time studies or 5 years, whichever comes first, the student line of credit is converted to a personal loan at the same interest rate. An approved guarantor is required. The application must be submitted and approved by September 30, 2023. This offer may be changed, withdrawn, or extended at any time, without notice, and cannot be combined with any other offer unless otherwise indicated. All applications are subject to credit approval by WFCU/ECU and to WFCU/ECU student solutions and standard line of credit terms and conditions.
**Students are to be 18 years of age, a Canadian Citizen and Ontario Resident, enrolled as a full time student in an accredited university or college program in Ontario.
Students with an existing WFCU line of credit are not eligible for this offer.