LINE OF CREDIT
A Line of Credit loan, once established, is an open loan account. A member and co-borrower can borrow against their Line of Credit (LOC) loan at any time either in person, by mail, through home banking or ATM if the member(s) has a Debit card. It can be connected to your checking account as an overdraft source. Monthly payments are based on the outstanding balance each month. A Line of Credit is a variable rate loan.