Metro Line
Metro Line lets you access extra funds whenever, wherever you need them. With Metro
Line, you have a personal credit line from $500 to $10,000. Simply use MetroWeb or
MetroWeb Mobile
or visit or call one of our offices to make an advance.
When you link Metro Line to your Columbus Metro
checking account
, it's your protection against costly fees
for returned checks and debit card transactions. Plus, a checking account makes
accessing your Metro Line even more convenient: you can make an advance by writing a
personal check, using your Debit MasterCard® or withdrawing cash at an ATM. (Please note
that Metro Line will not automatically advance funds to cover a payment scheduled
through MetroWeb Bill Pay.)
Signature Loans
If you want to consolidate bills, pay for emergency car repairs or even finance a family
vacation, a signature loan may be the answer. Signature loans are an unsecured loan product;
your signature and your previous credit history act as collateral for the loan.
Share Secured Loans
If you have funds on deposit with Columbus Metro, a share secured loan is an economical
way to borrow. We put a hold on your
savings,
money market or
certificate
accounts (Individual Retirement Accounts are not eligible) equal to the amount that you borrow. As you pay down the balance of your loan, your deposited funds
become available to you again.
There are two primary advantages to a share secured loan. One, your funds on deposit are
your collateral, so you receive a lower rate on your loan. And two, your funds on deposit
continue to earn dividends. A share secured loan is also a great way to start rebuilding a
damaged credit history.
Savings Builder Loan
A Savings Builder loan is a great choice for members in a variety of situations. If you want
to have funds on hand for a future expense, the Savings Builder loan can provide the discipline
you need to get there. It's also a good option if you're looking to establish or rebuild damaged
credit but don't have the funds required for a share secured loan.
Here's how it works:
-
You determine how much you'll need to reach your goal; you can borrow anywhere from $1,000 to $10,000.
-
The proceeds of your Savings Builder loan are put into a special savings account earning our
regular share rate.
-
You repay the loan in manageable monthly payments (up to a maximum of 60 months) at a
low interest rate.
-
When the loan is paid off, the proceeds — plus dividends — are yours to spend as you wish.
Our Savings Builder loan is an attractive option for a number of reasons:
-
It's available to everyone
— 100% of Savings Builder loans are approved (there is a nominal loan
fee).
-
It saves you money
— Because the proceeds of the loan are held as collateral, the rate is lower than for other personal loans.
-
It's flexible
— You choose the loan amount and repayment term that's right for you. Plus, you can pay off your loan
at any time without penalty.
-
It provides peace of mind
— Planning ahead with a Savings Builder loan takes the worry out of big expenses.
-
No regrets
— When you save for an upcoming expense, you're less likely to overspend. And you won't find yourself
paying for an expense for years after the fact!
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