scu Cre

Overview of scu Commercial Real Estate Financing

this service offers commercial real estate loans with competitive rates and flexible terms for Canadian businesses.

Since 2012, the platform has supported local businesses in acquiring, refinancing, or expanding commercial properties. As a Calgary credit union, we compete with larger institutions like Servus Credit Union and First Calgary Financial by providing local underwriting and personalized service. Our loans feature terms up to 25 years, amortization up to 30 years, and no prepayment penalties after the first five years. We finance owner-occupied and investment properties across Canada, including office, retail, industrial, and multi-family buildings.

Unlike big banks, the platform's local underwriting team makes decisions based on the property's income and your business' cash flow, not just credit scores. This approach allows us to approve loans for newer businesses that may not meet traditional bank criteria. We also offer construction financing for ground-up projects.

How to Apply for scu Commercial Real Estate Financing

1. 1. Prepare your documents

   Gather business financials, tax returns, property details, and a lease agreement if applicable.

2. 2. Submit your application

   Apply online through the portal's online banking or at any branch with a dedicated CRE advisor.

3. 3. Receive a term sheet

   Within 3 business days, the platform provides a term sheet with proposed rate and terms.

4. 4. Underwriting and appraisal

   Our team conducts due diligence and orders an independent appraisal, typically completed within 5 business days.

5. 5. Close and fund

   Once approved, you sign the loan documents and funds are disbursed within 2 business days.

Why Choose scu for Commercial Real Estate Financing?

The platform combines local decision-making with competitive rates, making it a strong choice for Canadian business owners.

Our team of 25 brings years of local experience, particularly in the Canadian commercial property market. We understand the nuances of Calgary and other urban centers. Unlike big banks, we don't offload risk: we underwrite in-house, which means faster approvals and more flexibility for unique situations. For instance, we can consider properties with a 90% occupancy rate, while many banks require 95% or higher. This method does NOT apply to properties with less than 50% occupancy, as we require a minimum income threshold.

All loans are serviced through scu online banking, and our relationship managers are available by phone and in-branch. You'll never get a call center; you'll talk to the same person who knows your file. Initially, we tried using a centralized underwriting model but found it slowed down approvals, so we switched to local decision-making. Sample size was limited to 25 properties in our 2024 analysis, but the trend is clear.

• Local underwriting, not credit-score-only decisions
• Rates starting at 6.75% with no prepayment penalties after 5 years
• Construction financing available for new builds
• Support for both owner-occupied and investment properties

Regulatory Oversight and Trust

The platform operates under the supervision of federal regulators, ensuring a secure and compliant banking experience.

It is a member of the Financial Consumer Agency of Canada (FCAC) and adheres to the regulations of the Office of the Superintendent of Financial Institutions (OSFI). Our deposits are eligible for CDIC insurance up to $100,000. We take your privacy and security seriously, and our online banking platform uses 256-bit encryption and multifactor authentication. We encourage customers to verify our registration with the FCAC.

The official methodology is detailed in the scu overview.