Access Line of Credit (ALOC)
The ALOC is an open-end line of credit loan product that functions as an overdraft source for your AFCU Checking Account, as well as a revolving line of credit to use as needed to fuel your financial lifestyle. As an AFCU member, you can establish a line of credit up to $10,000 (upon approved credit and loan policy limits). On those occasions where your account balance is not sufficient to cover a payment request, no matter what the source – VISA Debit Card purchase, scheduled online bill payment, or a check – an advance is made on your behalf from your available line of credit to honor the payment. The cost to you is only the interest on the loan advance until you pay it off – in most cases, the interest you pay will be well below the fees incurred for a dishonored payment due to a lack of available funds in your account. With an ALOC you can say “good-bye” to those embarrassing moments due to an innocent oversight and save yourself money too! Ask a Member Service Representative today how to link this to your AFCU Checking Account.
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Unsecured Loan
You can borrow up to $10,000 (upon approved credit and loan policy limits) in unsecured credit for any purpose.
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Share Secured Loan
When the best financing decision is to use your own money, AFCU offers an economical way to achieve that goal. You can borrow 100% of your funds on deposit for just 1% above the highest tier of the declared Regular Share Account dividend rate. The minimum loan amount is $500 and we offer a flexible repayment term of up to 60 months.
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Share Certificate Secured Loan
You can borrow 100% of your funds on deposit for just 2% above your stated Share Certificate Account dividend rate. The minimum loan amount is $500 and we offer a flexible repayment term up to the maturity date of the certificate.
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