Line of Credit
Avoid Bounced Checks with
Have you ever worried about bouncing a check due to insufficient funds in your account? Teachers' Advantage Line of Credit can provide your checking account with overdraft protection whenever you need it*.
You can protect your account from overdrafts, thereby eliminating the costly fees for returned checks. Overdraft protection is an inexpensive, worry-free way to insure your checks won't be returned due to insufficient funds.
Teachers offers overdraft protection from your Share Savings account (limit six electronic transfers per month) or a Teachers' Advantage Line-of-Credit. A Teachers' Advantage Line-of-Credit offers qualified applicants up to $25,000.
You can access your line-of-credit via your checking account, also withdrawals (up to $500 per day) from your available balance can be made at any of Teachers ATMs. You can also transfer available funds from your line-of-credit to your checking or savings account by using our Telephone Banking service or Online Banking.
Avoid the embarrassment and cost of bounced checks:
Apply online for your Teachers' Advantage Line-of-Credit today! >
For more information, visit any of our conveniently located branches, or call (631) 698-7000, extension 6790.
All rates and terms are subject to change without notice.
*The Annual Percentage Rate (APR) for new and existing balances will be the weekly average yield on United States Treasury Securities (1 Year CMT) adjusted to a constant maturity of one year (index) rounded to the next higher 0.25% plus a Margin of 7.50%. We will use the most recent index available to us as of the last full week of the month preceding the end of the calendar quarter prior to any annual percentage rate adjustment. The APR will change quarterly on the first day of January, April, July, and October.