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Personal Line of Credit
Plan now for unexpected expenses or gaps in your income with a personal line of credit. Withdraw funds as needed at lower rates than a credit card.
Access
Get funds when you need them
Manage
Pay for big expenses or use to consolidate debt
Flexible
Pay off early without fees, or schedule payments
Prepare with a Personal Line of Credit
Plan now for gaps in your income, sudden and large bills, or to consolidate your debt. This Personal Line of Credit gives you access to funds for 10 years to use when you need it. Get rates as low as 12.75% APR,1 lower than most credit cards. Just make a transfer to a Civic checking or savings account. Your payments are based on the amount you use or transfer, not the total amount of the personal line of credit. Prepare now for the unexpected.
Terms
Affordable capital
- Rates as low as 12.75% APR1
- Flexible loan amounts to meet your needs
- Reusable for 10 years
- Variable monthly payments based on the amount transferred
Features
Flexible access and payments
- Withdraw funds as needed
- No early pre-payment fees
- Funds can be transferred into a Civic deposit account
- Can be used to consolidate debt
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Here are a few FAQs
How long can I use a personal line of credit?
The Civic personal line of credit can be used for 10 years.
How is the payment calculated?
Minimum payments are 2.5% of your monthly outstanding balance, or $25, whichever is greater. Your minimum payment will never exceed your outstanding balance.
Can I use this account as an overdraft option?
Yes, this account can be used to protect your Bonus Checking account from any unplanned purchases. The authorized overdraft protection transfers money from a personal line of credit in $50 increments.
Do I have to advance the funds all at once?
Not at all. You can advance whatever amount you need from your available balance.
How do I access the funds?
For the fastest access, use online or mobile banking to transfer funds from your line of credit to any Bonus Checking, Select Savings or Money Market Account. If a check payment is preferred, contact the Experience Center and make a request for an official check. The requested check will be mailed to you at the address we have on file for your accounts.
What’s the difference between a personal loan and line of credit?
In a nutshell, one is a lump sum and the other is as-needed. A personal loan distributes your loaned funds in one lump sum. A personal line of credit is a revolving loan where you can draw from or advance the money you need, up to your available amount.
Where do I send my Civic loan payments?
Whether you mail your loan payments to us directly, or use an external bill paying service, the payment address is:
Civic Credit Union
PO Box 71204
Charlotte, NC 28272
This address is for payments to Civic Personal Loans, Auto Loans, Personal Lines of Credit, and Home Equity Lines of Credit (HELOCs).
Please note: This address is not for Civic credit card or mortgage payments, or for any commercial loans you may have with us.
Consolidate debt or prepare for sudden expenses with this Personal Line of Credit
Plan now for gaps in your income or large, unexpected bills with a personal line of credit. Withdraw funds as needed with lower rates than a credit card.
1 APR = Annual Percentage Rate. Civic membership required. Subject to approval. Rate and credit limit based on member’s credit history. Borrowers must be at least 18 years old and live in NC, SC, VA, GA, or TN. Members may borrow against their line of credit for a period of 10 years, after which the line of credit is closed; principal and interest payments required until the loan is paid in full. Payment example: For $8,000 loan at 12.75% APR, 60 monthly payments of $174.
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