Overview
Personal Loan
Line of Credit
Borrowing/Loan Rates
Calculators
Forms and Applications
Payment Holidays
Loan Protection Products

 / Loans / Personal / Line of Credit

 

Line of Credit

Delta Community’s Personal Line of Credit is an unsecured line of credit up to $20,000 that’s based on creditworthiness and ability to repay. You can use it for anything you’d like. It’s completely up to you.

What is it?

Not only is a Personal Line of Credit great for buying something you’ve had your eye on, it provides free overdraft protection for your Checking Account by automatically transferring money to your account if you ever need it. And, there’s no annual fee attached to it - yet another added bonus.

Once you have it, you’ll be able to access it easily through Audioline, Online Banking, by check, mail or at any Delta Community CU branch. For more information, see below for FAQs.

For Credit Calculators, click here.

Who is this product right for?

Someone who needs a
personal line of credit for…whatever!

 

TypeAPR
Personal Line of Credit9.25% to 17.00%

Who is this product right for?

Someone who needs a
personal line of credit for…whatever!

Loan Fees

Copy of Personal Line of Credit Check $3.00
Late Payment Fee $25.00 per month late
NSF for Returned Loan Payment, Personal Line of Credit Check or ACH $25.00
Pay by Phone Loan Payment Transfer $8.00
Stop Payment for Personal Line of Credit Check or ACH $20.00

Who is this product right for?

Someone who needs a
personal line of credit for…whatever!

Related Articles

  • GAP Protection
  • What is GAP?
    If you have an auto that is totaled or stolen, there may be a difference between the monies owed and what your insurance company will pay. Guaranteed Asset Protection is not auto insurance. It is a definciency waiver. It will cover the "gap" by paying the difference between your primary carrier's insurance settlement and your loan balance. The GAP payment covers the insurance deductible up to $500 but does not pay for delinquent payments, late charges, refundable service warranty contracts and other insurance-related charges.

    Note: GAP cannot provide protection beyond two (2) additional payments of the original repayment schedule of the loan. Ex: If you have taken 4 payment holidays, GAP will only cover the monthly payment amounts of 2 of those payment holidays.


    When can I purchase GAP?

    It can be purchased on any automobile, truck, or motorcycle regardless of the age or mileage on the vehicle, at the time of a new loan or refinance with Delta Community CU, regardless of whether you had GAP previously. The maximum term for GAP is 84 months. If you are refinancing your vehicle to add additional funds to the loan, you must repurchase the GAP agreement. The original agreement becomes null and void when you add additional monies to the loan.


    If I have GAP and I refinance an auto loan currently with Delta Community CU
    , do I have to purchase GAP again?

    Any time a Delta Community CU car loan is refinanced that has existing GAP, you must purchase the GAP again for this loan to be covered.
    If you are refinancing a car loan that is currently financed with Delta Community CU that does NOT have existing GAP, purchasing GAP is not an available option.



    What is the cost of GAP and is it refundable?
    GAP is available in two primary options; either 'Non-Refundable' GAP at $280.00 or 'Refundable' GAP at a cost of $495.00. For motorcycles, GAP is available at $300.00 for non-refundable and $515.00 for refundable policies. All options offer a 30 day trial period.


    What is the time frame for receiving a refund from the GAP if I cancel under the new terms and conditions?

    Please allow 4-6 weeks for a refund. For loans that still exist, the refund will be applied to the loan. If the loan is paid off, the refund will be deposited to your Savings Account.



    If I have purchased GAP, will it interfere with CPI?

    GAP is a product that covers the difference between your primary carrier insurance settlement and the loan or lease balance on a new or used auto or other collateral loan. It will not interfere with CPI.

  • Personal Loans
  • What are personal loans?
    Personal loans are loans that are approved without collateral based on credit worthiness. This loan allows you to borrow money on your signature although youre Personal Loan may be subject to cross-collateralization. Examples: Personal Loan, Personal Line of Credit, etc. Click here to view the current interest rates. There is no minimum loan amount required for a personal loan.

  • Payment Holiday and Eligible Loans
  • What is a Payment Holiday and what loans are eligible?
    A Payment Holiday is an option to skip your consumer loan payment on loans that have been opened for more than 6 months. You can request a maximum of two holidays per year, but they cannot be two consecutive months. Interest will continue to accrue and the original term of the loan will be extended.

    To request a Payment Holiday, the request must be made at least 32 days before the loan due date:

    • Log in into your Online Banking account and choose Payment Holiday under the Tools and Services box


    IMPORTANT - ELIGIBILITY:
    1st and 2nd Mortgage, Home Equity, Single Pay and Visa* loans are not eligible for Payment Holidays. Consumer loans must be current and opened for 6 months (and liens perfected) to be eligible. When you take a Payment Holiday, ALL of your eligible loans will be included automatically. Finance charges will continue to accrue as explained in the LoanLiner Credit Agreement and the loan maturity date will be extended.


    *
    Visa Payment Holidays are designated by the credit union and when offered, members must meet eligibility requirements. For more information on Visa Payment Holidays, click here.
    For more information on payment holidays, click here.


  • Adding on to an existing loan
  • If I want to add on to an existing loan, do I need to enter the total amount of the loan or just the amount I want to add on to that loan?
    If you are applying for a limit increase for a personal line of credit or credit card, enter the total requested credit limit (including any existing current limit you are refinancing) and enter your current limit at "what is your present limit".

    If you have an existing personal loan or vehicle loan with Delta Community CU and you would like to apply for additional funds, you will need to enter the Amount Requested as the dollar amount you need to borrow. A new loan will be created and your existing loan will be paid and closed. To request cash out on a vehicle, you must have equity in the vehicle and will be required to take a minimum of $500.

  • Payment Protection FAQs
  • Does Delta Community CU offer payment protection?
    Yes, the Payment Protection service provides a financial safety net for you and your family by reducing or cancelling your loan in the event of loss of life, if you become disabled or in the case of involuntary unemployment before the loan is repaid. Payment Protection will need to be purchased for each loan that you want protection for. Ex: You can have protection for your car loan but not your personal loan. To request payment protection for your loans, contact us online via the secure Message Center.


    What are the eligibility requirements and restrictions for Payment Protection?

    Disability

    • Restrictions or exclusions include and are not limited to
      • A normal pregnancy or a 6 month pre-existing condition
      • At the time of a filed claim event, employment with a minimum of 25 hours per week is required
    Life

    • Age 70 and over - will cover 25% of balance but not to exceed $12,500.00
    • Restrictions or exclusions include and are not limited to: a 12 month suicide or an 'At Work Clause'. The 'At Work Clause' says if a member is a homemaker, retiree, or a student, they are eligible only if they are performing all of the usual duties of a homemaker, retiree, or student in the normal manner on the date of the initial advance and are not receiving disability benefits from any source.
    Involuntary Unemployment

    • Must be employed for at least 3 months before Payment Protection starts
    • At the time of a filed claim event, employment with a minimum of 25 hours per week is required

    What are the rates for the Payment Protection options?


    The rates are as follows:
    • Option 1: Includes life, disability and involuntary unemployment
      • Single Coverage: $3.75 per $1,000
      • Joint Coverage: $6.75 per $1,000
    • Option 2: Includes life and disability
      • Single Coverage: $2.50 per $1,000
      • Joint Coverage: $4.50 per $1,000
    • Option 3: Life only
      • Single Coverage: $0.75 per $1,000
      • Joint Coverage: $1.25 per $1,000
    Will this protection cover my loan payments in the event of an involuntary furlough, job change and/or layoff if I have involuntary unemployment protection on my loans?
    Yes, it will cover each loan you have the policy on.


    When does Payment Protection expire?

    Payment Protection expires on:

    • The date of death
    • On the date the loan is transferred to another creditor
    • On the date the loan is paid off
    • On the last day of the month notification is received to terminate protection
    • The last day of the month in which the loan is 3 months past due


    What number should I call if I have questions about Payment Protection on my loan?
    For questions about Payment Protection, including claims assistance, you would call CUNA Mutual Group at 1-800-621-6323 or visit www.cunamutual.com. A CUNA representative will speak with you for specifics on your agreement.


    How do I cancel Payment Protection on my loan?

    You may request a form be mailed or faxed to you online using the secure Message Center or by phone. Once you receive the form, please sign and fax the form Attn: Shared Support at fax number 404-762-7539 or mail the form to Delta Community Credit Union, Attn: Shared Support, PO Box 20541 Atlanta, Ga 30320.

Ready to apply?

Simply apply online by logging into your Online Banking account, going to the Tools and Services menu and then choosing Apply for a Loan. You only have to apply once.

Or, if you’d like, you can call our 24-hour lending center at 800-544-3328 or apply at any of our Delta Community CU branches.

If you’re not yet a member, click here to sign up.

 

Who is this product right for?

Someone who needs a
personal line of credit for…whatever!

 

FAQs:

How can I increase my personal line of credit limit?
You can apply online by logging into your Online Banking account, going to the Tools and Services menu and then choosing Apply for a Loan. Or, you can call our 24-hour lending center at 800-544-3328 or visit one of our Delta Community CU branches to apply for the increase.

How can I lower my overdraft protection loan limit?
You will need to send a request online through the secure Message Center or you can mail your signed request to:

P.O. Box 20541 Atlanta, GA 30320-2541

You can also fax your signed request to:

404-677-4807
Attn: Loan Department

Is it possible to pay more than the scheduled payment due on my Personal Line of Credit every pay period?
Yes. To do this, you can either send a request online through our secure Message Center or fax your signed request to:

404-677-4807
Attn: Loan Department.

Please note: If you are set up for ACH payments, your scheduled amount will still show the required payment but the actual transfer amount will be just as you have requested. If your payments are set up as Auto Transfer, the payment due will show your requested amount.

Will my Visa ® Credit Card, Personal Line of Credit or Home Equity Line of Credit limits be decreased if I’m participating in the Member Assistance Program?
Possibly. Delta Community CU will notify you if there are any adjustments made to the limits on your existing loans.


Rates expressed as APR-Annual Percentage Rate. Availability of rates based on creditworthiness and other factors and are current as of the first day of the current month.

 

 
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