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Checking Line of Credit

Easy access & overdraft protection

A checking line of credit is a revolving credit line that is attached to your checking account. It protects you from overdrafts and from having transactions denied for non-sufficient funds. With Interra’s Checking Line of Credit (LOC) you’ll have peace of mind, knowing your checks are covered with this convenient overdraft protection option.

  • Easily access your Checking LOC by writing a check
  • Competitive low rate of 13.99% APR1
  • Set up as simple overdraft protection
  • Use it to pay for unexpected expenses
  • Low monthly payment of only 6% of the balance or $25, whichever is greater
  • Statement is delivered as part of your monthly Interra statement

Get started today! Apply for a checking line of credit online or contact Interra for more information.

How does a line of credit work?

If your checking account doesn’t have the funds to cover a transaction, it will automatically pull the necessary funds from the line of credit and cover the item.

Does a checking line of credit affect credit score?

A checking line of credit is reported to the credit reporting agencies. If timely payments are made, it may have a positive result on your credit score.

What is the difference between a loan and a line of credit?

A loan has a set term and payment and has a maturity date. A line of credit operates like a credit card and is revolving until you close the line down. Your payment will vary based on the balance.

How Much Am I Spending?
Interest Rates & Interest Charges2
APR for cash advances 13.99%
Paying interest You will be charged interest from the transaction date.
Annual fee None
Transaction fees None
Late payment fee $25.00

1Annual Percentage Rate. All loans subject to credit and collateral review. Not all applicants will qualify. 2To calculate your balance we will use a method called "average daily balance" (including new purchases). See your account agreement for more details. 3Billing rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement. The information about the costs of the line of credit described in this application is accurate as of 4/15/2024. This information may have changed after that date. To find out what may have changed, call 574.534.2506 or write to Interra Credit Union, PO Box 727, Goshen, IN 46527. Full Agreement and Disclosure for a Checking LOC