Lines of Credit

With each new day comes new needs, wants and goals.  Whether you have a special event coming up like a wedding, or you want to take a trip, or your children are going off to college and need some financial assistance, having a line of credit (LOC) with New Ross Credit Union can make your dreams or priorities happen by providing the needed financing with you in mind.

A LOC maximizes your purchasing power, while providing valuable overdraft protection for a chequing account. Be in a financial position to access funds when you need it, for personal emergencies, car repairs, major home appliances, investment opportunities, education, or whatever else your life may demand.  You decide when and why to use it while having the security of not overdrawing your account or having a cheque or payment returned due to insufficient funds.

With interest rates lower on a LOC than on retail credit cards, paying off credit card balances in full each month with a LOC can reduce your overall borrowing costs and provide you with a revolving source of cash.  With New Ross Credit Union LOC interest is calculated daily on the ending balance each day so you pay interest on the exact amount borrowed from your LOC and only for the number of days actually used.  Repay a small percentage of the balance each month, or more if you prefer, the flexibility is yours.


  • You control your own credit
  • Funds are accessible by personal cheque, cash withdrawal, or debit card
  • Competitive interest rate
  • Flexible payment schedules

Apply now using our online application