Line of Credit
We offer flexible lines of credit with a maximum loan amount up to $100,000.*
You may apply online, in-person or by phone. Once approved, funds are available at your discretion. Special features include:
- 24 hour phone account access
- 24 hour on-line account access
- Competitive variable interest rates
- May be used as a source of overdraft protection
- Automatic transfer for payments
- Loan Application
|Type of Loan||Maximum Term||Annual Percentage Rate (APR)**|
|Flexible Line of Credit (Variable)*|
*Interest rate for Line of Credit/Overdraft loan is a variable rate. The Annual Percentage Rate (APR) is based on an Index. The “Index” is the Bank Prime Loan Rate made available by the Federal Reserve Board in its Federal Reserve Statistical Release #H-15 that is published weekly. The most recent Index figure available as of 45 days prior to the change date of October 1 is called the “Current Index”. If the “Index” is no longer available, the credit union will choose a new “Index”, which is based upon comparable information. The annual adjustment of the interest rate will be based on the “Current Index” plus (+) a 2.75% Margin rounded to the nearest 1/8%. The Finance Charge is further adjusted in accordance with the individual Equifax Beacon Score. The Annual Percentage Rate (APR) may not increase more than 2.00% annually. An increase in the “Index” will result in an increase in the periodic rate which, in turn, may result in higher payments. In any event, the daily periodic rate shall never be less than a daily periodic rate with a corresponding Annual Percentage Rate of 2.75% and it shall never be greater than a daily periodic rate with an Annual Percentage Rate of 18.00%.
**Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan rates are subject to change without prior notice.
*Maximum loan amount is an aggregate of all trade and credit lines combined. Interest rates are based upon borrowers’ credit rating.