Unexpected expenses are, by nature, unplanned … and costly.

While it’s best to have a rainy-day fund, for many this is just a dream.

If you’re unsure how you’d survive a financial emergency, you’re not alone. A survey found that 47% of Americans would borrow for a $400 emergency.

As a credit union member, you have borrowing options. Two popular choices for emergency funding are personal loans and a Line of Credit attached to your checking account.

Here are some things to know about our Line of Credit:

1.) Limits.

Line of Credits have credit limits up to $2,500, enough to cover a small emergency. The value of a Line of Credit is its convenience; there’s no need for a new loan each time you incur an expense.

2.) Repayment options.

Line of Credit repayment is handled monthly. There’s a minimum payment and no fixed term to repayment

3.) Usability

Line of Credits only work at a merchant terminal; or by writing a check or using auto draft features.

4.) Interest rates

Line of Credit  interest rates can be high; the global average is 15%. Some Line of Credits fluctuate their interest rates based on the prime interest rate, and they can alter your rate if your credit score changes dramatically, making it difficult to plan your financial future. Our Credit Card is set at 11%APR

As a member of UHS Employees Federal Credit Union with a checking account you have the ability to apply for a Line of Credit today! . If you’re in a hard place, we can help. Call us at 763-6565, or stop by today!