Line of Credit

No matter how well we prepare, life can be surprising. Sometimes the monthly budget can’t stretch to accommodate your needs – and you require a little extra help to pay bills on time and protect your good financial standing. Whether it’s a flat tire, an account overdraft, or an urgent plumbing repair, a Community West Credit Union Line of Credit (LOC) can be a lifeline when you need it most.

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What Is a Line of Credit?

A personal Line of Credit is a versatile loan that gives you a specific amount of money to spend on things that you need. You don’t have to use the full amount available, and you will only pay interest on the amount you use. Once you apply, you may withdraw cash or transfer funds to your account whenever needed. There’s no need to rely on high-interest credit cards – your Line of Credit may be the safety net you need and offers more flexibility than a traditional loan.

What Are the Benefits of a Line of Credit?

There are many reasons to request a Line of Credit. The cash it affords is available to you as long as the Line of Credit remains open. While the money you can access is limited to a predetermined amount, you may withdraw cash at any time, using as much or as little as you’d like depending on your changing needs.

Additionally, your Line of Credit allows flexible repayment options. If you’d like to repay the cash you’ve used all at once, there are no penalties for doing so. On the other hand, a CWCU representative can work with you to set manageable monthly payments to repay the Line of Credit.

Finally, a Line of Credit can be a great tool for overdraft protection. Thanks to a Line of Credit, you can transfer money as needed to a linked account without worrying about overdraft fees and late payments.

Why Choose Community West Credit Union?

Founded in 1967, Community West Credit Union is member-owned and community-focused to serve those who live, work, attend school, or worship in Allegan, Barry, Ionia, Kent, and Ottawa Counties. We’re committed to offering quality financial products to more than 26,000 members who rely on us for checking and savings accounts, mortgages, car loans, and more.

Our strong roots in West Michigan help us work with every member to achieve better financial health. When you visit one of our six branches, a representative will provide more information about requesting a Line of Credit, as well as any other loans that might better suit your needs. No matter which financing options you choose, you can count on premier customer service from start to finish.

Apply for Your Line of Credit Today

If you’re ready to enjoy the flexibility and financial freedom of a Line of Credit, contact Community West Credit Union or apply online today. Need more information? Check out our current rates and use our live chat function now.

Last Updated: May 1, 2020
Line of CreditAPR (as low as)
Prime* + 7.00% Monthly Variable10.25% APR*

*Prime Rate as of 03-15-2020: 3.25% APR
**APR = Annual Percentage Rate. Subject to change. APR may be higher depending on your application.
Note: Certain loans may have more requirements.

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