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Personal Loan Fees & Disclosures

Personal Line of Credit (PLOC)

All applications are subject to approval. Your actual rate will be determined by credit qualifications and disclosed when the account is opened. Terms and conditions subject to change.

Finance charges

  • Variable Interest Rate
  • Interest accrues beginning on the date funds are transferred and added to the daily balance. Interest continues to accrue until the balance is paid in full.

Access to the Line of Credit

  • In Person Line of Credit Advances
  • Transfers to any Midcoast FCU Account via Digital Banking
  • Overdraft Protection Opt-In ³
  • Check, Debit Card, and ATM transactions (can be accessed through the ODP, transfer fee of $5 would apply)


  • Overdraft Transfer Fee: $5.00 per transaction
  • Returned Payment Fee: $28.00 per transaction
  • Late Payment: $25.00 will be charged if you are 15 or more days late

¹ If the System transfers to cover an overdraft it will only transfer in increments of $100. A member can transfer any amount over $100 through home banking, it does not have to be in increments of $100.
² Members will not receive a statement if their balance is $0.00
³ Members have the option to set up this Line of Credit as an Overdraft Protection for a Midcoast FCU checking account. The ODP is set up at closing and members can opt in or out and set up the transfer priority.

Additional details and benefits

  • Competitive rates
  • Continual access to funds as you pay down your balance.
  • Draw as little as $100.00¹ (can be linked as an overdraft protection option to your account.)
  • Get approved for up to $25,000 or as little as $500.00. We have solutions to fit your budget.
  • Minimum Payment of 2.5% of the balance or $50.00, whichever is greater.
  • Loan Due Date is on the 25th of each month.
  • Paper Billing statement will be mailed to members on the 1st of each month, if a balance is due.²
  • No Annual Fee