Personal Line of Credit

 

You have unexpected expenses and costs — we understand, and we want to help. Flex or FlexPlus Lines of Credit give you access to the cash you need to use how and when you want. For example, if your car breaks down and you need money to repair it, or if medical expenses are piling up, open a Flex or FlexPlus account. No collateral is required, payments are flexible, and the money is treated as a loan, so you only pay interest on the funds you actually borrow.

 

What Can a Flex or FlexPlus Line of Credit Be Used For?

 

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Payments

From high interest rate accounts.

Repairs

Covering necessary vehicle or other repairs.

Fun

Vacations and family celebrations.

 

Monthly Payments

 

Draw Amount Personal Line of Credit Principal and Interest Payment Credit Card Principal and Interest Payment2 Savings Per Month
$5,000 $101.36 $118.95 $17.59
$10,000 $202.72 $237.90 $35.18
$20,000 $405.00 $475.80 $70.80

 

Payment example above assumes an initial draw of $5,000, $10,000, or $20,000 with a 60-month repayment with no additional advances. Comparison of a Connexus Flex Line of Credit at our lowest rate of 7.99% APR1 to an average credit card rate of 15.00% APR2 and the calculated savings per month.

  • Competitive variable interest rates as low as 7.99% APR1
  • Two options for interest rate adjustment periods available:
    • Flex Line of Credit adjusts monthly
    • FlexPlus Line of Credit adjusts quarterly
  • Line amounts range from $3,0003 to $25,0004
  • Minimum payments are 2% of balance
  • Funds can be used how and when you want
  • No collateral required
  • No annual fees
  • Biweekly payment option available
  • Transfer funds anytime using Online & Mobile Banking or Telephone Banking 
  • Set automatic repayments through your Connexus checking or savings account.

You can apply online, over the phone, or at a branch. If you need assistance or want to customize a Flex or FlexPlus Line of Credit that’s right for you, call our Member Contact Center at 800.845.5025.

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Disclosures
1 Annual Percentage Rate. 7.99% APR is our lowest available rate as of 3/20/2017. The maximum rate is 18.00% APR. Other Personal Line of Credit rates and terms available. Your Personal Line of Credit is subject to approval and the rate may vary based on your individual credit, term, and relationship level. Rate includes all available discounts. All Personal Lines of Credit are subject to approval and qualifications. Certain restrictions may apply. Offer subject to change or termination.
2 Credit card payments are based off of credit card balances of $5,000, $10,000, and $20,000 with interest rates of 15.00% APR (current national average on www.creditcards.com as of 2/7/2017 is 15.44% APR) and a payment period of 60 months. To pay off the balance of the credit card in 60 months with an interest rate of 15.00% APR, payments will equal $118.95 for a $5,000 balance, $237.90 for a $10,000 balance, and $475.80 for a $20,000 balance.
3 The Flex Line of Credit has a line of credit range from $3,000 to $15,000.
4 The FlexPlus Line of Credit has a line of credit range from $5,000 to $25,000.