The Credit Union offers a suite of three line of credit products; overdraft, personal and home equity. All of these products have available life and disability insurance coverage.

The overdraft line of credit, available up to $3,000, offers convenient short term overdraft protection at an affordable cost.

The personal line of credit is available up to $25,000 and is intended not only for unplanned expenses but big-ticket item purchases and longer-term credit needs. This product offers competitive pricing on a Credit Union prime plus basis with the actual interest rate based on a member's financial standing.

The home equity line of credit is a revolving line of credit secured by the equity in your home. Up to 75% of your home's available equity can be accessed anytime, anywhere. This product offers a higher credit limit at a lower rate and is available from $50,000 and up. Initial setup of this product is subject to applicable legal and appraisal fees.

C-Y-S Account Student Line of Credit

The C-Y-S Account Student Line of Credit is especially designed to help students financially while earning a post-secondary diploma or degree.

Students can apply for up to $7,500 annually at a preferred variable interest rate of prime plus .75%, plus, enjoy all of the other benefits that the C-Y-S Account has to offer.

Subject to credit approval, there is even a special Student MasterCard to help with emergency situations. This helps to build and maintain a good credit rating when charges are paid off in full right away.

Although it can be repaid at any time, the interest only payment option that recognizes that student income fluctuates throughout the year - income is produced during summers or job placements and little or no income is earned during the academic year.

How do interest only payments help?

Firstly, by reducing debt upon graduation – when monthly interest payments are made, delaying the total debt repayment until after graduation is avoided.

Secondly, making interest-only payments minimizes financial obligations while in school attendance.

Following graduation, principal repayment of the line of credit can be delayed for up to three months. This allows time to find a job, or, to take a trip before a formal repayment program is arranged.

A C-Y-S Account Student Line of Credit can be accessed through special Line of Credit cheques, or, in-branch withdrawals. Plus, funds can be transferred anytime through Internet or Telephone Banking from the Line of Credit to the savings account, and then, accessed by ATM anywhere.