Lines of Credit
Great Overdraft Protection
A line of credit is a pre-approved maximum amount you can borrow based on your financial situation. It is attached to a chequing account. The cheques you write on it will increase the balance while deposits will reduce it.
We require a minimum monthly payment as low as interest only. And, you only pay interest on the outstanding balance -- not the maximum approved limit!
Replace your high interest credit cards from department stores and banks with our more cost effective line of credit. It's a great way to ensure overdraft protection on your chequing account. It also provides a convenient way to cover emergency expenses and to take advantage of one time bargains.
It's ready cash when you need it!
Home Equity Line of Credit
Turns out, homes are not only great to live in, but they are a great way to borrow affordably. If you need access to money for a home renno, going back to school, a wedding, or whatever it may be – the Home Equity Line of Credit (HELOC) is one of your most affordable options. A HELOC is a Line of Credit that you can take against a portion of your home that is already paid off. Everyone's situation is different, and we've got a number of different solutions for each situation. While the HELOC is a great option, your best bet is to give us a call or email to see what is possible.
250-442-5511
info@gfcu.com
