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Personal Line of Credit
Easy access & overdraft protection
A personal line of credit is a revolving credit line that can be attached to your checking account. It protects you from overdrafts and from having transactions denied for non-sufficient funds. With Interra’s Personal Line of Credit (LOC) you’ll have peace of mind, knowing you have funds or that your checks are covered with this convenient overdraft protection option.
- Easily access your Personal LOC by transferring funds to another account in Digital Banking or writing a check
- Competitive low rate of 13.99% APR1
- Set up as simple overdraft protection
- Use it to pay for unexpected expenses
- Low monthly payment of only 3% of the balance or $25, whichever is greater
- Statement is delivered as part of your monthly Interra statement
Get started today! Apply for a personal line of credit online or contact Interra for more information. Save time by logging into your digital banking to pre-fill your application form. After you have logged in click on 'Apply For Loan' to get started.
No digital banking or not a member yet? Click on the apply now button and complete an application.
How does a line of credit work when a checking account is setup with overdraft protection?
If your checking account doesn’t have the funds to cover a transaction, it will automatically pull the necessary funds from the line of credit and cover the item.
Does a personal line of credit affect credit score?
A personal line of credit is reported to the credit reporting agencies. If timely payments are made, it may have a positive result on your credit score.
What is the difference between a loan and a line of credit?
A loan has a set term and payment and has a maturity date. A line of credit operates like a credit card and is revolving until you close the line down. Your payment will vary based on the balance.
Calculators
Interest Rates & Interest Charges2
APR for cash advances: 13.99%
Paying interest: You will be charged interest from the transaction date.
Fees3
Annual fee: None
Transaction fees: None
Late payment fee: $25.00
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Whether you're joining Interra for the first time or opening another account, you're in the right place. Choose the account that fits your goals and get started with a team that's here to help every step of the way.
1Annual Percentage Rate. All loans subject to credit and collateral review. Not all applicants will qualify. 2To calculate your balance we will use a method called "average daily balance" (including new purchases). See your account agreement for more details. 3Billing rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement. The information about the costs of the line of credit described in this application is accurate as of 4/15/2024. This information may have changed after that date. To find out what may have changed, call 574.534.2506 or write to Interra Credit Union, PO Box 727, Goshen, IN 46527. Full Agreement and Disclosure for a Checking LOC