Kwik Cash Line of Credit
Kwik Cash works similarly to a credit card – without the physical card. As a line of credit, you are given an available limit that you can then borrow from whenever the need arises.
“The interest rate is much lower than a typical credit card or unsecured/signature note,” said Jerry Litwaitis, VP of Lending. “The line of credit is easy to apply for and approval for the line of credit generally takes less than 24 hours. You can access the funds through on line transfers, a phone call to the credit union, or stopping in at the credit union and making a transfer from the line of credit.”
How Kwik Cash Is Helpful:
- Provides Overdraft Protection:
Sometimes mistakes happen—no matter how careful you are! You can choose to set up your Kwik Cash to automatically transfer to your checking if you overdraw your account.
- Helps Cover Emergency Expenses:
Sometimes you just need some extra cash. Whether it’s an unexpected expense or a temporary shortfall, Kwik Cash provides a line of credit that is ready when you need it. A Kwik Cash loan allows you to conveniently borrow small amounts, up to a pre-approved limit.
Other Kwik Cash Advantages:
- No annual fee1
- Pay nothing until a transfer occurs and there is a loan balance
- You start to pay interest the day you show an outstanding balance
- As you pay off the balance on lines of credit, the money becomes available for you to use again. Use what you need, then pay back with a small monthly payment, and use the funds again as needed
- This loan has a variable rate structure, meaning the rate can change quarterly2
Who can use Kwik Cash:
- This line of credit is available to members with an active checking account at the credit union.
How to Apply for Kwik Cash:
- Visit the MMCCU office location
- Call us at 715-387-8686
Eligibility and terms:
1A late payment fee of $10.00 will be charged on the account if you are 11 or more day(s) late in making a payment. A returned payment fee of $20.00 will be charged to your share account if your payment is returned for any reason.
2The rate will vary with the market based on the quarterly calendar average of the weekly auction rates of U.S. Treasury Bills with a maturity of six months made available by the Federal Reserve Board. The APR will never be greater than 18%, or the maximum rate allowed by law, whichever is less. Any increase in the APR will result in more payments until what you owe has been repaid.
Offer is subject to credit approval. Membership eligibility required. Equal Housing Opportunity. Federally Insured by NCUA.