Questions members frequently ask about borrowing money

Can I borrow money to cover a check when my account runs low?
You have the option to set up a Line of Credit (LOC) from Lake Trust Credit Union, which is a good way to cover checks when your account runs low. Once your LOC is set up and your limit is established, money will automatically transfer from your LOC to your checking account to cover checks that would otherwise overdraw your account. You can also transfer the money yourself through Internet Banking or Phone Banking.

What can I use as collateral for a Secured loan?
You can use many different items as collateral for a secured loan - automobiles, RVs, boats, stocks, Lake Trust Savings, Certificates of Deposit, and other items of value.

If I do not have anything to use for collateral, can I borrow money?
You may qualify to borrow money without collateral. This could be a fixed term loan or an open-ended loan such as a credit card or LOC.

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