Personal Line of Credit
More affordable and convenient than standard overdraft protection.More affordable and convenient than standard overdraft protection.
Use online banking or visit a branch to transfer funds into your checking account.
Convenient access to a credit line without adding another card to your wallet
What You Need to Know About Our Personal Line of Credit
| Best For | People who want a ready supply of cash to use as needed. |
|---|---|
| Amount | Access up to $30,000. |
| Interest Rate | 13.75% APR* |
| Fees | No annual fees or loan application fees. |
| Type | Unsecured Personal Line of Credit. |
Why Choose Topside FCU?
As a credit union, we're here to support the financial needs of everyone in our community with low-interest loans and generous interest rates on your savings.
Founded in 1961 to support the employees of the Naval Weapons Laboratory in Dahlgren, Virginia, we've continued to evolve to meet today's challenges.
That's why we chose a new name that reflects our service to the wider community, including Fredericksburg, Virginia, and beyond.
Topside: It's the area of the ship that's above water, with the best view. It's the place you want your finances to be.
How You Can Use Your Personal Line of Credit
Home Improvements
If that remodeling project simply can't wait, use your line of credit to make it happen now.
Debt Consolidation
Use your line of credit to pay down debt and put an end to multiple, high-interest monthly payments.
Weddings
From the dress to the venue and cake, costs can quickly mount up. Cover it all with a line of credit.
Education
Whether you're upskilling or helping a child, a line of credit can help with tuition and more.
Building
Every time you use your funds and pay your PLOC back, your credit score will get a boost.
More
As a source of revolving credit, you can use your PLOC for anything you like, whenever you want.
Quick, Convenient, and Secure Application
| step 1 | Apply OnlineEnter your personal information and details about your preferred line of credit into our user-friendly online portal. |
| step 3 | Access the FundsUse online banking to transfer funds from your credit line into your checking account, or drop into your favorite branch. |
Personal Line of Credit FAQs
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WHAT IS A PERSONAL LINE OF CREDIT (PLOC)?
A personal line of credit is a form of revolving credit, meaning you can use the funds and pay them back in a repeating cycle.
You'll be able to use your line of credit for a set amount of time, called a draw period. There will be a limit to how much total funds are available, and how much you use is up to you.
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HOW DO I ACCESS MY PLOC FUNDS?
Accessing your funds is easy. You can use Online or Mobile Banking to transfer the funds from your line of credit into your checking account, and then withdraw the funds using your regular debit card.
Alternatively, you can visit your local branch to make an advance on your PLOC.
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WHAT DO YOU NEED TO GET A PLOC?
You need to be a member of Topside FCU in Fredericksburg, Virginia, or a member of the other communities of people who we serve such as NSASP, Dahlgren.
In addition, you'll need to have an acceptable credit score to be approved for a PLOC. Be sure to have your personal information ready when you apply, including proof of identity, income, and address.
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HOW IS A PLOC DIFFERENT FROM A PERSONAL LOAN?
A personal line of credit is different to a personal loan in a few key ways.
With a PLOC, you agree to a limit on the total funds you can access but you don't have to use the entire amount. You can use what you need, when you need it. The best part is, you only pay interest on the portion of funds you use.
Your monthly payments will go up and down depending on how much you use.
With a personal loan, you agree to a principal loan amount and you gain access to the full funds at once. You also agree to an interest rate, which will apply to the full loan amount.
Your monthly payments of the principal loan will be the same every month until it's paid off.
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IS IT EASIER TO GET A PLOC OR A PERSONAL LOAN?
It's quick and simple to apply for both a personal line of credit and a personal loan. Both types of financing need a certain credit score to qualify.
If you find your score isn't quite good enough yet, you could explore getting a Credit Builder Credit Card to build up your credit.
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WHAT CAN I USE A PLOC FOR?
You can use your personal line of credit for any purpose you like!
You could keep the funds on hand for an unforeseen expense, like car repairs or health care bills. Or you could use your credit for a planned expense, such as home renovations, college tuition, or that dream vacation you've been waiting for.
More Convenient Loan Options For You
See some other services and programs we offer to help you achieve your financial goals. If you have questions about them or our other products and services, please let us know. We are here to help.
Homestyle
Update and improve your home with the convenience and ease of a personal loan.
Lifestyle
Avoid financial stress so you can focus on making some of life’s greatest memories.
Home Equity Line of Credit
Put the equity you have in your home to work for you to fund renovations, college tuition, vacations, and more.
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