Non-Settlement Line of Credit
The “self-managed” Advantage Line of Credit is the most cost-effective option available to Catalyst Corporate’s members. Since this line of credit is not linked to settlement activity, funds do not automatically advance to cover settlement transaction shortfalls. Accordingly, it requires a greater degree of involvement on the part of the credit union. Still very easy to use, and with flexible collateralization options, the Advantage Line of Credit is the top choice for credit unions that closely monitor their settlement account due to the potential for cost savings on advances of credit.
Features & Benefits:
- Collateral requirements are flexible: The Advantage Line of Credit may be secured by a general pledge of credit union assets or by a specific pledge of assets acceptable to Catalyst Corporate.
- Credit unions can obtain loan advances online using TranZact any time before 4 p.m. Central Time.
- Payments are easy on TranZact, and monthly accrued interest is collected automatically.
- Loan advances are due 12 calendar months from the date of the individual advance.
- There are no limits on the number of loan advances a credit union may obtain, as long as the total credit line is not exceeded.
- Rates are attractive.