Personal Lines of Credit

A Personal Line of Credit  is ready cash when you really need it. You're in complete control of how much you borrow without having to reapply every time.

It’s a  form of ‘revolving’  credit.  This means, it’s a one-time approved ongoing loan that allows you to borrow only what you need, up to a pre-arranged limit by making a withdrawal from your 1st Choice Account.

Features of a Personal LOC

  • One-time application.
  • Readily available access to funds when you need it, instead of waiting for approval.
  • Interest paid only on funds used.
  • Provides you flexibility for ongoing need, unexpected needs, emergency costs or other personal use.
  • Provides protection from overdraft (to a certain amount) due to inadequate funds.

Secured vs Unsecured

A secured LOC  allows you to take a larger LOC with a lower interest rate.  See here for more information on a home equity LOCs.

Lines of Credit  Vs. Credit Cards.

While they sound similar, they aren’t.  LOC’s often have more competitive and lower interest rates than many retail credit cards. With LOC's, you will only pay interest on the amount you borrow, opposed to other charges, such as annual or hidden fees.


As soon as you repay the credit used and its interest, the money immediately available to use again. The only cost of borrowing is the interest on the exact amount you borrow and for the number of days you've used it.


Interested in a line of credit or raising your line of credit, contact us here.

Apply for a Line of Credit                          Make a Loan Payment Request


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