Line of Credit

Waiting for your pay cheque? Do you have bills to pay? A Line of Credit will provide you with a cost effective overdraft protection with interest accruing only on your closing daily balance and paid at month end. You pay only for the exact amount you borrow and only for the number of days you use it. No need to phone to access your Line of Credit - it's always available, you're in control - you manage your account.

The normal maximum limit on a Line of Credit is equal to one month net salary. So if your take home pay is $1,500/month - your limit would be $1,500. Your line of credit is a convenient way to pay your bills or unexpected expenses while waiting for your pay cheque to arrive.

What to Bring

To qualify for a loan we need to know as much as we can about you. This not only makes the application for a loan much simpler, but enables us to help you structure your finances to best suit your needs.

When applying for a loan please bring some important things:

  • Yourself, your spouse, your partner, your parent and/or your co-signor.
  • Current Employment information: where, how long, salary (pay stubs/tax returns)
  • Current Financial picture: investments, vehicles, real estate, loans, credit cards, and payments

What to Expect

Our excellent staff strive to provide superior service to our members. After we receive all your information the maximum time for approval is 1 day. All approvals take place within our branch structure.

CUMIS® Insurance - Payment Protection
Life, Disability, Critical Illness & Loss of Employment Insurance

Available coverage depends on the loan you acquire. Ask your credit union for more details.