WITH CREDITMASTER®, IT CAN DO WHATEVER YOU WANT IT TO.
Congratulations! You’ve just found the perfect place to call home. The kind of place that makes you want to hang your hat, paint a room, plant a garden – maybe even grow the family tree. But before we get ahead of ourselves, you still need to find that perfect mortgage. That’s when it hits you. For all the paperwork, procedures and expenses, your average mortgage is the farthest thing from perfect. The terms are rigid. The features are underwhelming. And short of paying it off, you can’t really do anything with it. That is, unless your mortgage is a CreditMaster®.
IT'S FLEXIBLE AND READVANCEABLE.
When it comes to choosing the mortgage rates and terms that suit you best, CreditMaster® keeps you flexible. Stuck between a fixed and variable rate mortgage? Now you can choose both. And if you want to stagger their maturity dates, you can do that too. You can even move some of your mortgage into a home equity line of credit, paying as little as the monthly interest, or as much as you want. Of course, this flexibility doesn’t end with your mortgage payments. With a CreditMaster® mortgage, the money paid towards your principal can be readvanced. In other words, the money you pay toward your mortgage is money you can still use – wherever and whenever the need arises.
IT'S THE ONLY LOAN YOU'LL EVER NEED.
The option to readvance makes CreditMaster® a powerful financial planning tool, and much more than a mortgage. Simply put, CreditMaster® allows the equity in your home to work for you today, which can really help you open a lot of new doors in your life. As property values go up and the outstanding balance of your mortgage goes down, your borrowing power increases – allowing you to attach new loan products like Term Loans or a Home Equity Line of Credit (HELOC) to your existing CreditMaster®.
To help you finance a car purchase, a family vacation or even an investment property, you can attach additional fixed or floating Term Loans to your CreditMaster® with the same or separate repayment terms. Or you can set up a Home Equity Line of Credit to help you prepare for the unexpected and fund ongoing projects like a renovation to your home. You draw on funds as you need them, and pay interest only on the balance used. Without having to pay any additional legal fees, you can tie these new loans to low mortgage rates and terms – whatever works best for you. Added up, this can save you thousands of dollars (and countless headaches) over your lifetime.
IT'S WHATEVER YOU WANT IT TO BE
Truth is, there’s no right or wrong way to use your CreditMaster® mortgage. One person might choose to leverage their borrowing power to consolidate debt, buy a dirt bike and build a cabin, while another could use their CreditMaster® as a conventional mortgage and nothing more. Whether you choose to borrow a little, a lot or nothing at all, you’ll always have the security of knowing you can. So now that you know what CreditMaster® can do, what will you do with it? The answer is entirely up to you, and that alone is enough to set CreditMaster® apart from every other mortgage out there. One thing’s for sure – it will suit you perfectly.
Understanding that a mortgage is one of the largest financial investments you’ll ever make, CreditMaster® was designed to “pay dividends” at every stage of your life – from saving you money and improving your financial flexibility, to helping you fund things like a home renovation, a trip around the world, a better education for your kids or a retirement spent on a llama farm in the tropics. Not into shearing llamas? No problem. Because a CreditMaster® mortgage amounts to whatever you choose to make of it. Which makes every CreditMaster® one thing in particular…
To view a video on the Creditmaster Mortgage, click the link below to view a Youtube video!
Members will notice a change in how MemberDirect® appears now that our Banking System Conversion is complete. All accounts that a member has an ownership in will show in your list of accounts. For ease of use and identification, those accounts can be renamed by the account owner for easier identification going forward. In the “My Accounts’ area, in the top left corner of the MemberDirect® home page, there is an option to ‘Rename Accounts’. For any additional assistance or concerns please contact your local branch staff, and they will be pleased to assist you.
All Bulkley Valley Credit Union members will receive a statement up to the conversion date of March 17th.
Chequing account members will receive a second statement at the end of March.
Non-chequing accounts will receive their next statement following the regular schedule, at the end of June.
Thank you for your patience and understanding during our conversion.