What interest rate does Southwest Corporate charge on its line of credit and term loan offerings?
Current interest rates on lines of credit and term loans are available under the Loan Rates link above. Interest rates for term loans posted on this website each day are “indicator rates.” Member credit unions should contact Southwest Corporate’s Loan Department at 800.442.5763, option 6, to inquire about the most current rate on a term loan of a specific maturity. • Does Southwest Corporate require its members to establish a line of credit? If a member has settlement transactions through Southwest Corporate, the establishment of a line of credit is required. Two lines of credit are offered that are “settlement-related.” They are: Performance Settlement Line of Credit and Standard Settlement Line of Credit. A member may utilize one or more of these credit lines as back-up liquidity for settlement transactions. Automated loan advances incur no penalties when used to cover overnight settlement transactions. • What factors are considered in determining the amount of the line of credit? In
Related Questions
- Can a credit union establish a line of credit or term loan with Southwest Corporate if it has a loan or line of credit at another financial institution?
- What interest rate does Southwest Corporate charge on its line of credit and term loan offerings?
- How is my interest rate (APR) calculated for my variable rate home equity loan or line of credit?
