Easy-Access Line of Credit
This convenient, personal loan saves you the worry of having funds available for your everyday purchases. It can be linked to your Checking Account so when you write a check or use your debit card for purchases, the funds are withdrawn automatically from the Easy-Access Line of Credit in increments of $100 to cover the purchase instead of overdrafting. Or, you can transfer or withdraw any amount up to your loan limit before you make purchases. The maximum line is $25,000 and is an aggregate of all unsecured loans (Credit Cards, Personal Loans, Easy Access Loan, etc.), so the limit you may borrow could be less based on your credit and if you have other unsecured loans with MSDFCU. Transfers and withdrawals can be made through Online Banking, CUTIPS, or by contacting us. It’s the easiest way to access funds when you need them.
Since it is a line of credit, as you pay off the loan each month, the funds become available to you again – similar to a credit card. Rates are competitive and usually lower than credit card rates. You only need to apply for the loan once and you’re set!