Line of Credit

A line of credit is an authorized overdraft limit that is attached to your chequing account.  The funds are always available for ongoing credit needs whether it be emergencies or untimely expenses.  There is a one-time approval and no need to contact the credit union for advancement of funds. You only pay interest when you use it.  

Who Might Use this Product/Service?

Members who require immediate access to additional funds.

Cost Savings and Member Benefit Expand/Collapse

  • Competitive floating Interest Rate
  • You only pay interest on the amount used
  • Interest is calculated daily and debited at the end of the month.

Convenient and Flexible Expand/Collapse

  • One time approval for ongoing credit needs
  • Funds are accessible anytime through a variety of channels:
    • In person
    • Online banking
    • ATM/ Point of Sale
    • Cheque writing

Peace of Mind Expand/Collapse

  • Peace of mind knowing extra funds are available when you need them.
  • Outstanding Balance Loan Insurance available.

Information about your Line of Credit Expand/Collapse

You have many different ways to access your account information or history

  • Monthly Statement - You can choose how you want to receive your monthly statement; paper or eStatement. Both options include cheque images.  We suggest protecting the environment and ensuring secure record keeping by using e-statements.
  • In branch
  • Online banking, telephone banking and mobile services

Good to Know Expand/Collapse

  • Personal, Heritage or Student Choice Checking account required
  • On Approved Credit

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