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Foreign credential recognition & update loans

Restart your career in Canada.

Borrow

Up to $30,000

Best part

Cover costs to acquire or update Canadian certification in your field

Get started

Back to Work and Foreign Credential Recognition (FCR) loans are 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 $7,500 or 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 one of our credential recognition loans to help you reach your career goals.

You’ve got options.

Foreign Credential Recognition (FCR) Loan

Back to Work loan

Is this for me?

I am a newcomer to Canada and want to borrow up to $30,000.

‍

I want to borrow under $7,500.

Do I need a referral?

Yes

No

Interest rate

Vancity Prime¹ +0%²

Vancity Prime¹ +4.0%²

Minimum

$1,000

$1,000

Maximum

$30,000³

$7,500

Term length

12 to 60 months

Up to 60 months

Payment flexibility

Repay early without any pre-payment penalties.

Repay early without any pre-payment penalties.

Make it happen.

For Back to Work loans:

Not a member? Join Vancity

For Foreign Credential Recognition Loans:

To access a Foreign Credential Recognition loan, you must be recommended by one of our community partners:

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.

More ways to kick-start your career.

With These Hands loan

Cover costs of equipment, gear and tools you’ll need to start a skilled trade.

Learn more

Credit cards

Earn points as you pay for courses, tools or materials.

Learn more
See all loans

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.

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Vancity is proud to operate on the traditional territories of the Coast Salish and Kwakwaka’wakw peoples, and we are committed to Reconciliation as a core value.

© Vancouver City Savings Credit Union