- Cost per $100
- $14.00
- Borrow up to
- $1,500
- Funding
- Next business day
- Apply
- Online and in-store
Licence verified AB, BC, MB, NB, NL, NS, ON, SK
FirstOntario Credit Union personal loans: rates, eligibility and review
Last reviewed November 12, 2026 by the Koke editorial team.
FirstOntario Credit Union is a member-owned credit union serving Hamilton, Halton and Niagara, with membership open to anyone in Ontario. Its unsecured personal loans start at 7.89% APR variable or 8.49% fixed, on approved credit, with no prepayment penalty. You can apply online for an unsecured loan or in a branch.
Last reviewed November 12, 2026
FirstOntario Credit Union at a glance
- Provinces served
- Ontario
- Apply
- Online, In store, Phone
- Borrow
- Not published; ask the lender
- Repay within
- —
- Loan type
- Instalment loan
- Interest rate
- Unsecured from 7.89% APR (variable) or 8.49% (fixed)
- Money arrives
- 2 to 3 business days (Into your FirstOntario account once the loan is approved and signed)
- Credit check
- Hard credit check: “Standard credit approval; your credit file and income set the rate”
- If a payment bounces
- —
- If you pay late
- —
- Support hours
- —
Is FirstOntario Credit Union licensed where I live?
FirstOntario Credit Union is an Ontario credit union, not a payday or high-cost lender. Credit unions are registered with the Financial Services Regulatory Authority of Ontario (FSRA), and the Verify link opens FSRA's credit union finder so you can confirm the registration. Membership is required before you can borrow.
| Province | Licence number | Status | Regulator | Checked on |
|---|---|---|---|---|
| Ontario | Not published | Verified | Financial Services Regulatory Authority of Ontario (FSRA) · Verify | November 12, 2026 |
Apply now opens Koke’s application page, which sends your answers to our matching partner LeadScout. It may match you with FirstOntario Credit Union or with other lenders. Koke may be paid for referrals and for clicks to lender websites; that never changes our rating. Disclosure
This is not a payday loan: FirstOntario Credit Union charges interest over time (Unsecured from 7.89% APR (variable) or 8.49% (fixed)) instead of a fee per $100, and your exact rate is set when you apply. Read the total cost of borrowing on the lender’s quote before you sign.
How borrowing from FirstOntario works
FirstOntario began in 1939 as the credit union for Stelco steelworkers in Hamilton and now serves members across the region. You join, which means buying a membership share, then apply for an unsecured loan online or book a branch or phone appointment for a secured loan. Payments can be weekly, every two weeks or monthly, and you can pay extra at any time.
What to watch
The published rates are starting points for good credit; your offer depends on your file and income. FirstOntario doesn’t publish minimum or maximum loan amounts, so ask what you qualify for before you apply. Optional life, disability and critical illness insurance is offered on loans; ask for the payment with and without it.
What we like
- Starting rates a fraction of a payday loan or high-cost instalment loan
- Apply online for an unsecured loan, or talk to someone in a branch
- No prepayment penalty; lump-sum payments allowed
What to watch
- You must become a member first
- Credit approval is stricter than at high-cost lenders
- Loan amounts and terms aren't published, so you only see them when you apply
Where FirstOntario Credit Union lends
Other licensed lenders in Ontario
Applications go through our partner Loans Canada, which may match you with this or other lenders. Koke may be paid for referrals. Lenders decide approval, cost and terms.
- Cost per $100
- $14.00
- Borrow up to
- $25,000
- Funding
- Next business day
- Apply
- Online and in-store
Licence verified AB, BC, MB, NB, NL, NS, ON, PE, SK
- Cost per $100
- $14.00
- Borrow up to
- $1,500
- Funding
- Same day
- Apply
- Online
Licence verified AB, BC, MB, NB, NS, ON, PE
A payday loan isn’t your only option. See lower-cost alternatives
Reviewed by Trust Pilot, Accredited Financial Counsellor Canada® on November 12, 2026. Our editorial standards
Sources
- FirstOntario: personal loans (accessed November 7, 2026)
- FirstOntario: personal loan and line of credit rates (page updated Nov 10, 2026) (accessed November 7, 2026)
- WOWA: FirstOntario Credit Union profile (accessed November 7, 2026)
Update log
- — Licences verified on provincial registers (ON) by admin.
- — Profile published from public sources. Licences listed as stated by the lender; register check by Koke pending.