Borrow
Up to $30,000
Best part
Cover costs to acquire or update Canadian certification in your field
Back to Work and Foreign Credential Recognition (FCR) loans are here to help newcomers and those who wish to update their professional or trades qualifications to meet Canadian standards. Pay for courses, certification or living expenses while you attend school.
Borrow up to $7,500 or up to $30,000 with convenient monthly payments and special interest rates.
You’re more than your credit score. Get approved based on past employment experience in your previous country, current job offers, referrals, and the future potential of your field in Canada.
Whether it’s to pursue education or to purchase equipment and tools, use one of our credential recognition loans to help you reach your career goals.
Is this for me?
I am a newcomer to Canada and want to borrow up to $30,000.
I want to borrow under $7,500.
Do I need a referral?
Yes
No
Interest rate
Vancity Prime¹ +0%²
Vancity Prime¹ +4.0%²
Minimum
$1,000
$1,000
Maximum
$30,000³
$7,500
Term length
12 to 60 months
Up to 60 months
Payment flexibility
Repay early without any pre-payment penalties.
Repay early without any pre-payment penalties.
Not a member? Join Vancity
To access a Foreign Credential Recognition loan, you must be recommended by one of our community partners:
They will match you with a case manager who can work with you to create an education plan and help prepare required documents. They will also help you schedule a meeting with an account manager at Vancity.
In your application or appointment, we may ask for some additional documents. Once those are all in order, we’ll handle the rest.
If you’re an existing member, you can sign virtually. If you’re new, we’ll set up a time for you to visit a branch.
Legal
¹ The Vancity Prime rate represents a variable rate of interest announced by Vancity from time to time as its Prime Lending Rate and Prime rate for interest earned on select accounts. Rate subject to change without notice.
² The annual percentage rate (APR) is compounded monthly, not in advance, APR assumes no fees or charges apply. If additional fees and/or charges apply, the total Cost of Credit and APR would increase. This product, its features and advertised interest rates may change at any time and may be withdrawn by Vancity at any time for any reason without prior notice to the member.
³ Applications and the amount you can borrow are subject to meeting Vancity's usual credit criteria.