Our Line of Credit provides fast and convenient access to extra funds when you need them. Similar to an overdraft, it works like an emergency fund that you can access directly through your Savings Account.

Main Features

Interest
Calculated daily and charged monthly in arrears.

Repayments

	A minimum monthly repayment of 5% of the outstanding balance or $20 (whichever is greater).
	Funds can be transferred at any time to reduce the outstanding balance and reduce the interest charged to the account.
	Automatic repayments can be set up to pay the full balance of the Line of Credit or the minimum monthly payment.

Security
This loan is typically unsecured. 

How Do I Apply?
Applying for your Line of Credit is easy.  Simply download a Line of Credit application.  Complete the application, attach the required documentation (as detailed below) and return it to the Credit Union by mail, fax or take it to one of our Member Service Centres in Camberwell or Moonee Ponds.

To book an appointment with one of our friendly Member Service Consultants, or request an application form, call 1300 654 822.

Documentation
You will need to attach the following documentation to your application:

	3 months of Bank Statements (if you have been a Member for less than 6 months).
	Evidence of Income - provide one of the following (unless you currently have your whole of pay deposited to a Credit Union account): • A letter from your current employer. • Current payslip(s) showing employers name and address.
	If you are self-employed you may need to provide: • Profit and Loss statements and Balance Sheets for the last years, or from commencement of business (whichever is the shortest) • Tax Assessment Notices and Tax Returns for the previous 2 years.
	If you have another source of income, please specify on the application and supply evidence.

1. Weekly, fortnightly or monthly repayments.