Personal Line of Credit
A Personal Line of Credit (PLOC) from Oregon State Credit Union is a loan that gives you lots of flexibility and it's great for paying for all kinds of expenses, including special projects or emergencies, and it can be used for overdraft protection or to build credit.
Revolving convenience, easy access
It's like a credit card, offering you “revolving” convenience, but you don't have to deal with a card and there's no need to reapply when you need extra cash. Just transfer funds from your line of credit into your checking account when you need money.
Get a competitive variable interest rate.
Borrow $250 - $50,000 based on credit qualifications.
No minimum draw amount required.
Easy access with checks, at a branch, online, phone, ATM.
|Loan type||APR (Low)*||APR (High)||Repayment terms|
|Personal Loan||8.24%||17.99%||12-36 months|
|Personal Loan||13.49%||17.99%||37-60 months|
|Payday Advance||18.00%||18.00%||Up to 30 Days|
|Personal Line of Credit (PLOC)**||7.00%||15.75%||$25 or 2.50% of the total balance, whichever is greater.|
* APR (Low) indicates the lowest annual percentage rate you may qualify for on the loan. The loan interest rates shown in the table are reflective of a range of rates available. All loans are subject to approval. You may qualify for the lowest rates published depending upon your credit qualification, the amount financed, receiving a 0.25% APR reduction by maintaining an automatic loan payment each month and 0.25% APR reduction for qualifying for the Premier Member Merits category.
The following examples illustrate the expected monthly loan payments for members who qualify for the prime rate, premier member merit status and enroll in automatic monthly payments. A $5,000 Personal (Signature) Loan with 8.24% APR for 36 months has a monthly payment of $157.25. A $5,000 Personal (Signature) Loan with 13.49% APR for 60 months has a monthly payment of $115.00. If you delete your automatic payment request or the credit union terminates your automatic payment request due to insufficient available funds, this interest rate may be increased by one-quarter of one percent (0.25%) for the remaining term of the loan. This rate change will be reflected on your credit union statement.
** Personal line of credit is not eligible for the Member Merits or automatic payment decrease in APR. The Periodic Rate and corresponding Annual Percentage Rate for the Personal Line of Credit loan is calculated by adding a graduated margin (the margin is based on a risk based pricing tier) to the month end Prime Rate for the previous calendar month as published by the Federal Reserve. The Annual Percentage Rate will never be more than 18% or the maximum rate allowed by applicable law.