Lines of Credit


Overdraft Protection- PCA  Lines of Credit


     Overdraft protection will protect you from cheques being returned or help wth short term need until payday.  It is attached to your chequing account.  Interest is calculated daily on your outstanding overdraft balance and charged monthly.  The account must revolve monthly.


Note: There is no monthly fee if the account does not go into overdraft.


Home Equity Lines of Credit


Lending limits of $20,000 or higher based on home security.  Attractive rates.  A repayment of 1% of the outstanding balance is a minimum requirement to cover interest costs.  See Loan Dept. for more details. 


Personal Chequing and Current Accounts, Overdraft Interest Rates and Fees


If you are not covered by our overdraft protection service, and we choose to process a debit which overdraws your account, or which exceeds (or further exceeds) your overdraft protection limit, the cost is a minimum overdraft interest charge of $5.00.  There is an additional $5.00 charge for each item debited to your account, while the account remains in overdraft or over your overdraft protection credit limit.  If Souris Credit Union chooses to allow one or more such withdrawals, it has no obligation to do so again at any time in the future. 


Souris Credit Union's standard overdraft rate is currently 18% per year and may vary from time to time.  Interest is calculated on the final daily balance of the overdraft and is compounded monthly.  Interest will apply before and after demand, default, or judgement.