Loans & lines of credit

Vancity Fair & Fast Loan™ FAQs

1. How is this loan fair?

Vancity has a commitment to social justice and financial inclusion, which means we believe in the well-being of every one of our members. The Vancity Fair & Fast Loan™ helps our members get back on their feet when they need it. With no application fees, a low interest rate, and offering an affordable payment plan, Vancity is dedicated to being there for our members even during difficult times.

2. How long will it take for me to get a Vancity Fair & Fast Loan™?

If you are eligible, you could receive a Vancity Fair & Fast Loan™ within the same day. Below are the typical times it may take for you:

Become a new Vancity member	1 hour
Apply and receive a Vancity Fair & Fast Loan™	1 hour

3. How is the Vancity Fair & Fast Loan™ different than a payday loan?

The Vancity Fair & Fast Loan™ is an alternative solution intended to reduce a member’s dependency on payday loans. When a money emergency hits it takes time for people to get back their feet. The Vancity Fair & Fast Loan™ offers a manageable rate and a more flexible payback schedule than a payday loan, giving members breathing room to move forward and recover fast.

4. What do I need to qualify for this loan?

In order to be eligible for this loan, this is what we require:

Vancity membership ($5 deposit for initial membership shares)	Current and regular source of income	Age 19 or older
Credit worthiness and adequate debt levels	No undischarged bankruptcy or outstanding consumer proposals	Current resident of BC
Canadian Citizenship, Permanent Resident or Landed Immigrant status	No unpaid collection items unless the loan will be used to pay them out

5. Why do I have to be a member to get the Vancity Fair & Fast Loan™?

Vancity is a co-operative credit union, who supports the common economic, social, and cultural needs of its members through its products and services. As a member, you will have access to funds for your Vancity Fair & Fast Loan™ from our membership deposits. In return, your initial membership deposit, loan interest, and any future deposits will help the rest of our membership community for their needs. This model of reciprocity supports our sustainable co-operative economy and is universal for all of our banking products.

6. If I’m not in a hurry, what other options do I have for a small loan amounts or credit?

If you are not in a hurry, and would like to explore other opportunities, please feel free to visit a branch or contact our Member Services Centre at 604.877.7000 or toll free at 1.888.Vancity (826.2489).

Depending on eligibility, you may have access to:

a small dollar loan up to $3,000, or
a Personaline up to $5,000
an enviro™ Visa* card with a lower limit, or
a secured enviro Visa card.

Vancity Fair & Fast Loan™ is a trademark of Vancouver City Savings Credit Union.

™ enviro, enviroFund, Make Good Money, and Vancity are trademarks of Vancouver Savings Credit Union.
*Visa Int./Vancity, Licensed User.