Line of Credit

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The Line of Credit is a revolving credit facility that helps you with unexpected expenses, since some expenses can catch you off guard. 

For example, car repairs, broken appliances, child-care payments, or even medical bills.


Qualified members have an unsecured limit, determined by their collateral and credit risk assessment.

Interest Rate*

Risk Rated

* A credit risk rating is based on assessing your financial commitments and your ability to repay.

Repayment Period

Reviewed every 12 months

Line of Credit Ceiling

There is no limit on the amount to be requested.

Line of Credit Requirements

  • Two forms of valid ID
  • Evidence of Income (Payslip- not older than 1 month and Job Letter / Bank Statements- not older than 3 months)
  • Shareholding of $ 2500.00; subject to a credit assessment
  • Must have established employment status and history 
  • Must be in a current permanent job for a minimum of one year 
  • Must be in a current casual or temporary job continuously for a minimum of two years
  • If self-employed, must be able to provide proof of income for a minimum of two years 
  • Proof of loan purpose (based on the purpose of the loan)
  1. Must be able to provide a payroll/salary deduction which the member’s employer must confirm before the disbursement or a standing order from your bank 
  2. Proof of address (utility bill – not older than three months). N.B. If the utility bill is not in the applicant’s name, written consent and valid identification are required from the bill owner to use 

Loan Protection

TECU’s Line of Credit facilities are fully insured by our Loan Protection plan. Upon death loans are insured as follows:

1-75 years$150,000.00
76-80 years$75,000.00
81-85 years$37,500.00
86 years and over$0.00

Call us today for up-to-date rates. Ask for a Loans Officer, who will be more than willing to assist you.

Ready to apply?

Apply for a Line of Credit Loan online.

Make an appointment with a Lending Specialist.

How much can I borrow?

With our borrowing power calculator, you can estimate how much you can borrow and what your repayments would be.

Note: Mobile and tablet users may experience minor usability issues with the calculators.

Helpful hints in securing a Line of Credit

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Build your borrowing capacity

TECU Credit Union partners with you to make achieving all of life’s goals a reality. Our credit facilities are assessed based on your ability to repay in addition to the following credit worthy aspects:

  • Present shareholding and frequency of contribution towards shares
  • Assets, (property, vehicles) savings and liabilities (loans/debts) at other financial institutions
  • Employment status and history
  • Your established share-holding within the Credit Union
  • Your Share to Loan Ratio, which is your total shares divided by the total loans that are currently outstanding (Shares/Loans)
  • Your existing liability balance and your indebtedness
  • Savings, Borrowing and Repayment History within the credit union
  • The primary purpose for borrowing
  • Your age, current salary, employment status and duration of membership
  • The availability of adequate and marketable security and other assets
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