Skip to main content
Select Image

Lines Of Credit


Lines of Credit

A personal line of credit can be a valuable financial tool, providing you immediate access to additional funds right when you need them. ​We offer a variety of lines of credit, including personal and home equity.​

Select Image

Consolidate Your Debt With a LOC

​A personal line of credit can be used for rainy day emergencies or when you want some extra cash, perhaps for a vacation, special purchase or home renovation. It's also a great way to consolidate higher interest debts (like credit cards) into a single lower monthly payment. Your line of credit has a low variable rate and you can make a full or partial repayment any time without a penalty. You'll save money in interest monthly. And any amount you pay back immediately becomes available for you to use again.

Select Image

Determining Credit Limits

​The amount of credit you can get approved for is based on your full financial picture, including your collateral security, income, credit history and personal net worth. Unsecured lines of credit don't require collateral; for larger amounts, many use the equity in their homes or other real estate holdings as collateral for secured LOCs.

Select Image

Apply For a Line of Credit

​​Why not apply for a line of credit (LOC) to help you through those unplanned expenses? Interest rates are linked to Summerland Credit Union’s prime rate and are typically lower than bank and retail credit card rates. There is no monthly fee to use your line of credit and you pay interest only on the amount you borrow. Your line of credit is linked directly to your chequing account for easiest access. Come see one of our Personal Account Managers for full details.


Financial Literacy

Expand your personal financial knowledge.

Financial Calculators

Calculate and compare loan options with our easy-to-use calculators.

Contact Us

Talk to one of our Personal Account Managers about your options today.