Vancity - Foreign Credential Recognition Loans Program

Vancity- Vancity was founded in 1946 to provide financial services to people from all walks of life. Vancouver City Savings Credit Union, commonly referred to as Vancity, is a member-owned financial co-operative. By asset size, Vancity is the largest community credit union in Canada as of 2017, with $26.4 billion in assets, 59 branches and more than 525,506 members.

What Is The FCR Program?

The Foreign Credential Recognition (FCR) loans program is funded in part by the Federal Government of Canada to help skilled newcomers to get back into their professional field or an alternative related career field.

FCR is a process to verify that your education and work experience, obtained in another country, is equivalent to the standards established by the Canadian workforce.

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Who Is Eligible?

Skilled Newcomers who meet the following requirements:

Permanent Resident, Canadian Citizen Temporary Resident, or Refugee with legal document representing working status in BC
Proof of education credential and work experience outside of Canada
Seeking to get credentials recognized in Canada and/or undertaking training for an Alternative Career

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FCR Loan Program Features

Loans can be used for credential evaluation, association & exam fees, books & course materials, short-term bridge training, and travel expense/living allowance
Multiple Loan amounts from $1000 – $30,000
Flexible repayment from one to five years
Competitive low-interest rate.

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FCR Loan Program Benefits

Different from banks, credit unions, and student loans; the FCR loan program focus on processing the application based on character assessment
If you are a skilled newcomer who just arrived in Canada with no credit history, the FCR loan program can help you if you need financial support to get back to your own profession or an alternative related career field.

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