Lines of Credit
Funds for whatever comes your way
Access the funds you need whenever you need them!
Lines of Credit
Description
A Line-of-Credit (LOC) maximizes your purchasing power, while providing valuable overdraft protection for a chequing account. It ensures access to funds when needed-without waiting or arranging for a personal loan.
Key Features
- Owner controls own credit
- Funds are accessible by personal cheque or cash withdrawal
- Competitive interest rate
- Flexible payment schedules
Student Line of Credit
Description
An affordable way to make continuing education possible. Sydney Credit Union's Student Loan LOC is designed for students who require post-educational funding. Proceeds are to be used for educational purposes only; i.e. tuition, books, fees and normal living expenses for those students.
Key Features
Benefits:
- Lower interest rates mean lower payments when it is time to pay back your loan
- You have one year after graduating to secure work before you have to start paying on the principal
- Speak in person with local staff if you have questions or need help
RRSP Line of Credit
Description
Making an annual RRSP contribution is as easy as transferring the funds from a pre-arranged line-of-credit. It’s a convenient option for people who make annual contributions by borrowing, or who want to maximize this year's contribution or take advantage of unused carry-forward amounts.
Key Features
- Apply only once
- Rates as low as prime
- Lump sum repayment available
- Easy phone call authorizes transfer
- Make extra payments anytime, without penalty
Get your line of credit more ways
Not sure which line of credit is right for you?
We’ll be happy to help you pinpoint the option that best suits your needs.
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Line of credit rates
Take a look at the latest, competitive rates on offer for our line of credit solutions.
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Terms & Conditions
All loans subject to credit approval and normal credit guidelines.
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Copyright 2024 Sydney Credit Union. All rights reserved.
Copyright 2024 Sydney Credit Union. All rights reserved.
