Foreign credential recognition loan
Restart your career in Canada.
Borrow
Up to $30,000
Best part
Cover costs to acquire or update Canadian certification in your field
Foreign Credential Recognition (FCR) loan is 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.
Why get a credential recognition loan?
Flexible payments
Borrow up to $30,000 with convenient monthly payments and special interest rates.
Inclusive approval
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.
Covers all kinds of costs
Whether it’s to pursue education or to purchase equipment and tools, use our credential recognition loan to help you reach your career goals.
Loan details.
Features
Details
Interest rate
Vancity Prime¹ +0%²
Minimum
$1,000
Maximum
$30,000³
Term length
12 to 60 months
Payment flexibility
Repay early without any pre-payment penalties.
Make it happen.
For Foreign Credential Recognition Loans:
To access a Foreign Credential Recognition loan, you must be recommended by one of our community partners:
- Progressive Intercultural Community Services Society (PICS) Foreign Credential Recognition Program
- Immigration Services Society of BC (ISSofBC) Global Talent Loans
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.
Leave the rest to us
In your application or appointment, we may ask for some additional documents. Once those are all in order, we’ll handle the rest.
Sign for your loan.
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 This product, its features and advertised interest rates may change at any time and may be withdrawn by Vancity at any time for any reason without prior notice to the member.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.