MLOC: Your Open-Ended Borrowing Solution
A MLOC from CorePlus can be your gateway to financial freedom and flexibility. With this innovative MoneyLine of Credit, you can access funds whenever you need them, without the hassle of applying for a new loan every time an expense arises.
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At CorePlus Credit Union, we understand that life is full of unexpected expenses and opportunities. That’s why we’ve introduced the MLOC – a dynamic and open-ended borrowing solution that puts you in control of your finances.
Enjoy the freedom of an open-ended borrowing limit. With MLOC, your financial flexibility knows no bounds. Access funds whenever the need arises, without the hassle of reapplying for a new loan.
Tailor your borrowing experience to your needs. MLOC offers limits of up to $15,000, providing you with the financial capacity to tackle both large and small expenses.
Say goodbye to waiting! With 24/7 access to your MLOC, funds are available whenever you need them. It’s convenience at your fingertips.
Payments are only required when you access your line. Enjoy the peace of mind of knowing that you have a financial safety net without the pressure of unnecessary monthly payments.
Customize your borrowing capacity based on your needs.
24/7 availability ensures that funds are ready whenever you need them.
Enjoy the flexibility of making payments only when you access your MLOC.
| Loan (Sub Account) Type | Term (Months) | Annual Percentage Rate (APR) As Low As¹,² | Max Loan Amount |
|---|---|---|---|
| Personal Loan | Up to 12 | 9.49% | $25,000 |
| Up to 24 | 9.74% | ||
| Up to 36 | 9.99% | ||
| Up to 48 | 10.24% | ||
| Up to 60 | 10.49% | ||
| Up to 72 | 10.74% | ||
| Up to 84 | 10.99% | ||
| Signature Remodeler Loan | Up to 60 | 7.99% | $50,000 |
| Up to 72 | 8.24% | ||
| Up to 84 | 8.49% | ||
| Up to 120 | 8.74% | ||
| Up to 144 | 9.74% | ||
| Up to 60 | 6.99% | $50,000 | |
| Up to 84 | 6.99% | ||
| Up to 120 | 6.99% | ||
| Up to 144 | 7.49% | ||
| Up to 180 | 7.99% | ||
| Money Line of Credit | Open End | 9.00% | $15,000 |
| Credit Builder Loan | Up to 36 | 13.99% | $5,000 |
| Rapid Cash Short Term Loan | Up to 12 | 28.00% | $2,000 |
| Share Secured Loan | Up to 84 | Share Rate + 4.00% | 100% of Shares |
| Certificate Secured Loan | Term of Certificate | Certificate Rate + 3.00% | 100% of Certificate |
¹ANNUAL PERCENTAGE RATE (APR). Your Annual Percentage Rate (APR) will be determined by your past credit performance (Managed Risk Program). The Annual Percentage Rate (APR) is shown as a range of available APRs with the exception of credit cards which have a managed risk rate assigned by card type. Share and Share Certificate secured loans and other flat rate loans are not subject to managed risk pricing. Loan APRs may differ based on credit history (Managed Risk Program), the Loan to Value (LTV) ratio of the loan collateral (security) and fees that may constitute finance charges. Your actual APR will be included in the initial Truth in Lending (TIL) disclosure or, for real estate loans, the Good Faith Estimate (GFE) you receive based on the specifics of your actual circumstances and loan application.
²PERSONAL LOAN Borrowers consolidating debt will need to add 1.00% onto the personal loan base rate, not to exceed 17.99%.
Ready to experience the freedom of an open-ended borrowing solution? Apply for an MLOC with CorePlus Credit Union today and embrace a financial experience designed around your needs.
At CorePlus Credit Union, we’re not just about loans; we’re about empowering your financial journey. Apply for MLOC and enjoy a borrowing experience that puts you in control!
