Access funds as you need them with a Line of Credit from YNCU
No annual fees, no interest on money you haven’t used, and no need to borrow one big lump sum upfront. Just flexible access to credit when repairs, larger purchases, or unexpected costs need a little more.
No annual fee- Only pay Interest on what you use
Trusted by 65K+ members
Term
Revolving
Money on hand. Flexible access to credit when you need it.
A YNCU Line of Credit gives you access to an approved amount of funds you can use, repay, and use again. Borrow only what you need and pay interest only on the amount you use. It’s flexible financing for planned expenses, unexpected costs, or simply having funds available when you need them — without applying for a new loan each time. Become a member and let us help.1
Line of Credit eligibility checklist
Before you apply for a personal Line of Credit, here are a few basic criteria to check.3
Age
Criteria 1
At least 18 years old and living in Ontario.Residency
Criteria 2
Currently a permanent resident of Canada
What can you use a Line of Credit for?
A line of credit can be helpful when you need flexible access to money, especially for costs that do not always come all at once.
Home or car repairs
Use it when something needs fixing and the cost is bigger than your monthly budget can comfortably cover.Ongoing projects
Helpful for renovations, repairs, or projects where expenses come up in stages.Larger purchases
Cover bigger costs like furniture, appliances, travel, education, or other purchases you've planned for.Unexpected expenses
Keep credit available for costs that come up before your savings are ready.
Access is subject to your available credit and account terms. Interest applies to amounts borrowed; fees may also apply. Required payments must be made, and interest-only payments do not reduce your principal balance.²
Okay, can I use it for home repairs?
Commonly asked questions
A loan usually gives you one lump sum with regular payments over a set term. A line of credit gives you access to funds up to your approved limit, and you can use available credit again as you repay it.
No. You only pay interest on the amount you have used, not on the unused portion of your credit limit.
You can use it for repairs, larger purchases, unexpected expenses, ongoing projects, or costs that happen over time.
A YNCU Line of Credit has a variable rate based on YNCU Prime. Your rate may change if YNCU Prime changes.
Yes. You can make your required minimum monthly payment or pay more when you want to reduce your balance faster.
Yes. A line of credit is revolving, which means available credit opens back up as you repay what you used.
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¹ Credit approval and product availability
Lines of credit are subject to credit approval, YNCU membership requirements and applicable lending terms. Approved limits, interest rates and repayment requirements depend on your financial circumstances and the product selected. Applying or opening an account does not guarantee approval. Your credit agreement sets out the applicable rate, fees and repayment obligations.
² Access, interest and repayment
You may borrow up to your available approved limit, subject to the credit agreement. Amounts repaid toward principal may become available to borrow again while the revolving facility remains available. Access and limits may be reviewed, restricted or changed as permitted by the agreement and applicable law.
Interest is charged on amounts borrowed, rather than the unused credit limit. Fees and other charges may apply. Where the rate is variable, changes to the reference rate specified in your agreement may affect interest costs and required payments.
You must make the required payments by their due dates. Paying only interest does not reduce the principal owed. Repayment flexibility does not remove your obligation to repay the outstanding balance.
³ Eligibility and applications
The eligibility checklist provides general guidance and is not a complete statement of lending requirements. Meeting the listed criteria does not guarantee approval. Additional information, income verification, credit assessment and, where applicable, security or a co-borrower may be required. Submitting an inquiry or requesting a call is not an approval or commitment to lend.
General information
This page provides general information. Available features, borrowing purposes and repayment options are subject to eligibility and the applicable credit agreement.