Be prepared for any project, emergency, or last minute need for funds by having a Line of Credit. A set dollar limit is allotted, giving you the ability to take the funds whenever needed. Interest will only be charged on the amount used.
Unlimited, 24/7 access via our Electronic Services to:
Consider the maximum monthly payment you may have to make for your budget
As you pay money off what was used on the LOC, it becomes available for your use again
Keep the balance at 50% of your available amount to help keep your credit rating good
Ability to set this up as Overdraft Protection for your checking account. Then if you do not have the funds available in your accounts to cover a check, it will take it off your Line of Credit and pay the check. This will also avoid Non-Sufficient Fund fees.
When set up for Overdraft Protection from LOC there is only a $4 transfer fee compared to a $25 Non-Sufficient Fund fee or Courtesy Pay fee
Debt Protection available which includes unemployment, life and disability