Business ProfileforCameco Credit Union
Current Alerts For This Business
BBB has received information from consumers suggesting that this company is offering loans for an advance fee. Consumers state that they have applied for loans online. After paying thousands of dollars for a deposit or "insurance", consumers allege that they never received the loan promised by the company.
These schemes target individuals who are having trouble obtaining cash or credit. Customers are lured by advertisements promising "guaranteed" loans - regardless of credit history - for advance fees running between $50 to a couple thousand dollars. However, you must pay the advance fee, sometimes referred to an insurance, before obtaining the "loan".
In Ontario, it is illegal for a company to request an upfront fee prior to obtaining a loan.
If you believe you are a victim of an advanced fee loan company, BBB advises you to contact local law enforcement and the Canadian Anti-Fraud Centre at 1-888-495-8501
Tips:
- Beware of companies offering a guarantee on your loan especially if you have bad credit or no credit.
- Advertising through a recognized media outlet does not ensure that the ad was placed by a legitimate company.
- It is illegal for a company to request an upfront fee prior to obtaining a loan (insurance, administration fee, etc)
- If you are requested to wire funds through Western Union, MoneyGram, e-transfer, bitcoin, or to deposit funds in a bank account, it's most likely a scam.
At-a-glance
Business Details
- Location of This Business
- 180 Northfield Dr W, Waterloo, ON N2L 0C7
- BBB File Opened:
- 2/4/2018
- Contact Information
Principal
- Mr. Timothy Lander, Financial Advisor
- Additional Contact Information
Fax Numbers
- (877) 885-8125Primary Fax
Email Addresses
- Primary
- (877) 885-8125
Customer Complaints
0 Customer Complaints
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