We've merged effective January 1, 2020 and while this website may still bear the name and logo of Westminster Savings Credit Union, we are in the process of revising all print and digital materials to bear the name of the new legal entity - Prospera Credit Union. We appreciate your patience during this transitional period.

Readvanceable RRSP Loan

A RRSP loan is one of the best ways to get your RRSP going. It's inexpensive - only $20 per month can get you started investing and making money.

Apply online

visit a branch near you or call 604-517-0100 to set up an RRSP today.


If you don't have money available to contribute to an RRSP then using an RRSP loan to make your contribution can make sense.


  • Easy to set up - apply , on the phone at 604-517-0100 or visit a branch close to you
  • Establish a RRSP loan credit limit and then, with one phone call, borrow up to that limit for RRSPs every year without re-applying
  • Use your tax refund to pay off your loan - you can wait up to 90 days to begin repaying your loan, and you can make loan payments at any time
  • Weekly or accelerated bi-weekly payment schedules - repay your loan quicker
  • Preferred loan rates - see current RRSP loan rates now

Why Borrow?

RRSP loan rates are very low so you won't pay a lot of interest over the term of an RRSP loan. However, the tax refund that you can receive when you use your RRSP loan to make even a small RRSP contribution is usually much more - even 10 times more! - than the interest you'll pay on the loan. Plus you'll earn interest on your RRSP investment!

To apply for this loan or for more information

To use your already-approved Readvanceable RRSP Loan phone our Member Service Centre at 604-517-0100 or visit a branch near you.

To apply for a Readvanceable RRSP Loan for the first time begin online, on the phone at 604-517-0100 or at your nearest branch.


Need help?

See all our contact options.