Canada's inflation rate sits at 6.8 percent, its highest level in 30 years. Costs for basic necessities, like putting food on the table and keeping a roof over one's head, have gone up by even more. As we all look for ways to cope with the rising costs, how can CCEC help you, our members?
For example, now may be a good time to consider consolidating your debts or paying off a higher rate credit card. At CCEC, we provide short term loans to help you cover temporary needs or longer terms for debt consolidation and to help reduce the interest you may be paying.
For those who already own a home, and have a variable rate mortgage, your rates will steadily increase along with the cost to service the loan. If you have a personal or home equity line of credit, you will also be more impacted by the rising interest rates. With this rising rate environment, we encourage our members to review your options and consider locking in your mortgage for a longer term to help save on future hikes.
At CCEC, we are here to help you. We believe that lending is an investment in our members, our neighbours and our local businesses. Contact us so that we may walk you through your options and work together to see what may be the best fit for you.