CU LINE Personal Line of Credit is a pre-approved loan that is there when you need it. It provides convenient access to credit to travel, purchase a second car or vacation home, finance a child’s education or to take advantage of an investment. Once your CU LINE Personal Line of Credit is established, you can draw up to your available credit limit in whatever amount you require to meet your needs.

There is no cost for you to have a CU LINE Personal Line of Credit ready and available. You are charged monthly interest only on the amount you use, for the time you use it. You can be eligible for a CU LINE Personal Line of Credit, starting at $5,000. Your CU LINE Personal Line of Credit interest rate is based on your personal financial situation, the security you provide and our Prime lending rate. If your CU LINE Personal Line of Credit is secured by credit union deposits, you will benefit with a lower interest rate.

Convenient Access to Credit – You can use your CU LINE Personal Line of Credit to gain control and flexibility in the management of your finances.

Flexible Payments – Interest is charged only when you use your CU LINE Personal Line of Credit. There are no monthly or annual fees charged for maintaining your CU LINE Personal Line of Credit. When you use your CU LINE Personal Line of Credit, making payments is very flexible. You only pay the monthly interest on an outstanding balance as well as fluctuate the balance down by 20% per year.

Insurance Protection – You can protect your CU LINE Personal Line of Credit with optional creditors’ life insurance. You pay only for coverage on the balance outstanding, at affordable rates.

Record Keeping Made Easy – Your CU LINE Personal Line of Credit is included as part of your monthly statement with all your other accounts at ECU – A Division of WFCU Credit Union. All CU LINE Personal Line of Credit transactions for the month will be summarized for easy record keeping.

Manage Your Funds From Anywhere – Our automated telephone banking, online and mobile banking services are designed to help you conveniently manage all your accounts at ECU – A Division of WFCU Credit Union, including your CU LINE Personal Line of Credit. Obtain balances on all your accounts, transfer between accounts and review transactions processed, anywhere, anytime, using a touch-tone telephone or your personal computer or mobile device.

CU LINE Personal Line of Credit Provides Value – You can save money on interest because your CU LINE Personal Line of Credit may offer lower rates compared to other lending products. There is no application, registration or annual fees.

Transfers are Easy – We will take care of all the details necessary to transfer a personal line of credit from another institution to your new CU LINE Personal Line of Credit at ECU – A Division of WFCU Credit Union.

Conveniently Manage Your Finances – ECU – A Division of  WFCU Credit Union makes it easy for you to manage your finances effectively and efficiently. When you are ready to use your CU LINE Personal Line of Credit, here is what to do: Transfer, at no charge, the required amount from your CU LINE Personal Line of Credit to your Eva Account, using our automated telephone banking, mobile banking, online banking, our ATMs, at one of our retail locations or over the telephone with one of our representatives. Then you can make your purchase using your cheques or your debit card for debit transactions.

When this is inconvenient, you can make your planned purchase directly from your CU LINE Personal Line of Credit by using your CU LINE Personal Line of Credit cheques, provided to you at no charge, and pay a nominal fee for each cheque that has been processed. In addition, you can make a withdrawal from your CU LINE Personal Line of Credit, for a nominal fee, using our ATMs or at one of our retail locations. When there are unexpected shortfalls in your Eva Chequing, the credit union, for a fee, will transfer funds from your CU LINE Personal Line of Credit to cover the shortfall, so you will avoid the cost and inconvenience of being declined for your transaction.

In addition, if you do not want to manage your funds this way, you can apply for CU Overdraft Protection™ service, as security for those situations when you have an unexpected shortfall in your chequing account. There is no charge for the CU Overdraft Protection service, until you use it.

Our Student Line of Credit assists students in financing post-secondary education. With the Student Line of Credit, you’re approved for the total amount of money you need before the school year starts. Features include:

• Maximum pre-approved limit of up to $15,000 a year for a maximum of four years for full-time students 
• No set-up costs 
• Once approved, use up to your available credit limit in whatever amount required 
• While you’re a student and for up to one year after graduation, pay monthly interest only on the amount used 
• For easy record keeping, the Student Line of Credit is available for review via our secure online banking tool 

ECU – A Division of WFCU Credit Union’s HELOC lets you use the equity in your home to borrow at preferred rates. With one application and one-time legal and appraisal fees, you can increase your buying power.

Our HELOC lets you establish a secured, personal line of credit, with no maintenance fees. Once it’s established, it provides a long-lasting solution for your future borrowing needs. Whether you plan to take a vacation, purchase a car or complete home renovations, your HELOC is available for use.

It’s Easy! ECU’s HELOC makes borrowing a great deal easier. With our flexible repayment options, monthly interest-only payments are possible. You can easily access your HELOC through cash withdrawals or special cheques.