Reserve Line of Credit for Your Checking Account
A Reserve Line of Credit connects to your checking account and provides a financial safety net when you need it most. This revolving credit line (a flexible borrowing option that lets you use funds as needed) automatically transfers money to your checking account when you overdraw, helping you avoid costly overdraft fees.
Key Benefits
- Avoid overdraft fees: Automatic transfers protect you from costly bank penalties
- No annual fee: Pay only a small transfer fee when you use the service
- Flexible access: Transfer funds anytime through online or mobile banking
- Manageable payments: Set up automatic payments from your Share Point Credit Union checking account
- Credit limits: Based on your credit qualifications
How It Works
When your checking account balance drops below zero, the Reserve Line of Credit instantly transfers funds to cover the shortage. You only pay interest on what you use, and you can repay the balance on your own schedule. Think of it as insurance for unexpected expenses or timing gaps between paychecks.
Getting Started
Apply online or visit any branch location. We'll review your credit history and checking account relationship to determine your credit limit. Once approved, your Reserve Line of Credit activates immediately for peace of mind.
Highlights
Credit Limits Up to $5,000, Based on Credit Qualifications
Reserve Line Funds Can Be Used to Pay Bills and Make Purchases
Automatically Transfers to Checking to Avoid Overdrafts (No Yearly Fee, $2 Per Occurrence)
*APR = Annual Percentage Rate. To view full details, click here.
