Take $10,000 Of My Debt

We know how difficult it can be to juggle everything else in life along with your credit card payments. So why not take advantage of our introductory offer and join us at Member Savings Credit Union and we will help you take $10,000 off of your debt at interest for one year.

With this offer we could save you thousands in credit card interest in just one year as the entire $10,000 will go directly towards the principle amount and you pay no interest on it. You can consolidate several credit card balances to take full advantage of this offer.

Plus, you can apply for additional funds at Member Savings Prime (currently 4%) to cover more credit card debt. Think of what you could do with all of the savings!

If you used the calculator on the home page, you have already seen the savings this offer could offer you. Below we outline the details of the offer, but if at any time you have any questions, please do not hesitate to give our Manager of Lending Operations, Tom Elsdon, a call at 416.864.6760 or 1.888.560.2218 ext. 6760.

Ready to apply? Fill out the online application form and submit it for 24 hour notification on approvals (in business days).

Offer Details

Is there a minimum monthly payment required for the year?

Yes, it will be based on the term of the loan at the rate of Credit Union Prime. (currently 4%)

What happens if I miss a monthly payment?
If you miss a payment, the 0% offer will no longer apply and your loan will default to our prime rate (currently 4%). This rate is still significantly lower than credit card rates.

Can I still use my credit card after you pay the $10,000 towards it?
Yes, you can continue to use your credit card. We are helping you manage your accumulated debt, there is no requirement to cancel your credit card.

Does Member Savings need to see proof of the credit card payment?
We will pay the credit card company directly or direct funds.

How hard is it to qualify for the loan - *OAC" ?
We are here to help you, we want to ensure that your credit is up to date and that you have payments you can afford.
 
What is the rate after the one year is up?
If you choose a term longer than one year, the loan will switch to our credit Union Prime Rate (currently 4%) after the first year. This still offers a significant savings over credit card interest rates.
 
Can I pay the $10,000 back at any time?
All of our loans are open so they can be paid off at any time without penalty.

What happens if i want to pay off more than $10,000 in credit card debt?
You can apply for any amount you wish, the balance over $10,000 will be calculated at our Credit Union Prime (currently 4%) and on approved credit.

What if my $10,000 debt is over 3 different credit cards?
No problem, the $10,000 offer can be spread among numerous cards, but only up to $10,000 is offered at 0%.

What if I am already a credit union member?
If you are already a member, see our member offer page.

What if I Am Already A Member?

The "Take This Debt" offer is a special introductory offer to encourage non-members to join the credit union. As a member of the credit union, you are not eligible for this offer, but will already be aware of all of the advantages of belonging. And, as you know the more members who join, the more beneficial it is for everyone.

However, there is a way that you could still qualify for this Special Introductory Offer. If you help Member Savings Credit Union recruit a new member* by sharing with them all of the great benefits of belonging to the credit union, we will qualify you for the offer and everyone will benefit.

*The new member must sign up for at least one product or service with the credit union. The new member may be a spouse, family member or co-worker but must be eligible for membership.