A line of credit is a revolving, ongoing loan that lets you maximize your purchasing power while borrowing any amount of money up to a pre-arranged limit. Interest is paid only on the actual dollar amount
you borrow, and you can access your funds any time by simply writing a cheque, using your debit card (MemberCard) or making a cash withdrawal in-branch.
As part of a deposit account arrangement, any deposits made to your account automatically reduce the balance owed under your line of credit. This all in one account arrangement ensures that you only pay interest on the net line of credit balance, which can result in considerable savings to your cost of borrowing.
For more details, please contact your nearest Williams Lake and District Credit Union branch.