Personal Line of Credit
The Credit Union Line-of-Credit is a sensible
part of your money management program, protecting your account and
maximizing your buying power. A Line-of-Credit is an approved,
ongoing credit limit that you access by simply writing a cheque or
using your debit card.
You pay interest on the exact amount you borrow and only for the
number of days you've used it; at rates substantially below retail
It's ready cash when you need it for such things as travel,
unforeseen expenditures or to take advantage of savings on those
uniquely priced one-time bargains! The Credit Union Line-of-Credit
also works as your overdraft protection avoiding unnecessary NSF
fees and having cheques returned due to inadequate funds.
Personal Line-of-Credit Highlights:
Pre-approved, ongoing credit limit.
Monthly payments are 3% of credit utilized.
Interest is calculated on the credit utilized.
Payments may be made through payroll deduction.