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Oak Bank Credit Union is pleased to offer members a full suite of lending options.  Whether you are buying a home, paying for university, or planning a dream vacation, our knowledgeable staff can work with you to find the solution that makes your dreams a reality.


We offer a wide variety of mortgage options for residential, agricultural and commercial purposes.

  • Variable Rate Mortgages offer the advantage of prepayment at any time without penalty.
  • Fixed rate mortgages are available with terms from 1 to 5 years.
  • CMHC-insured mortgages are also available for up to 95% of the purchase price of the residential property.
  • A variety of mortgage and life insurance options are available to provide peace of mind and protect you and your family from the uncertainty of the future.


Multi-Purpose Mortgage

The Multi-Purpose Mortgage (MPM) is not a loan; it is a type of security. The MPM is a special mortgage security with a re-advancement clause. This allows it to be used to secure any number of loans or lines of credit up to the mortgage's limit which is usually 80% of the market value of the home and property. It can also be registered on farm and commercial property, but the limits are usually less than 80% of market value.


  • The legal process - mortgage preparation, signing and registration - is done only once. When additional financing or refinancing is required, it can usually be done the same day, unlike conventional mortgage financing (providing the limit of the mortgage is not exceeded), because the mortgage security is already in place.
  • The MPM can secure many loans and lines of credit as well as co-signed loans and guarantees.
  • All loans / lines of credit secured by the MPM are charged interest at the variable mortgage rate, which is our best variable rate.


Personal Loan

We offer personal loans at competitive rates for almost any purpose: new vehicles, used vehicles, recreational equipment, investments, debt consolidation, vacations, etc.

  • For peace of mind, life and disability insurance is available.
  • Repayment frequency can be set to your convenience, i.e., weekly, bi-weekly, semi-monthly, monthly, etc.
  •  Automatic payments from your Oak Bank Credit Union account can be set up or electronic debits from your account with another institution.
  •  All personal loans can be prepaid at any time without penalty.


Line of Credit

Lines of credit are available for personal, farm and commercial accounts.

  •  Interest is calculated on the closing daily debit balance and charged to the line of credit at the end of each month. You pay interest only on the amount you use.
  • Line of Credit life insurance is available.


Agricultural and Commercial

Equipment, operating and term loans are available for Agricultural and Commercial enterprises.

  • Competitive interest rates and terms.
  • Flexible repayment options.
  •  CSBFA-guaranteed loans for eligible commercial borrowers.


Click here to submit an Online Loan Application