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FirstReserve
is your personal line of credit
that offers a competitive interest
rate with no annual fees or
service charges. You may access
your credit line by direct
advance in person, by telephone,
online transfer, or simply
by writing a check that exceeds
the balance in your checking
account. Should you write a
check that exceeds your balance;
the bank will automatically
deposit sufficient funds to
cover the check in increments
of $100 up to your pre-established
credit limit. You can also
transfer funds from your FirstReserve
line of credit to your other
accounts at First United Bank. |
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FIRSTRESERVE
ACCOUNT FEATURES*: |
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CONVENIENCE
Whenever you need money,
simply write a check and
the money will be automatically
transferred from your FirstReserve
Line of Credit to your
checking account. Simply
repay the balance on your
FirstReserve account, and
the credit line becomes
available for you to use
again. |
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DIRECT ADVANCES
When
you need cash in a hurry,
request a direct advance.
Call one of our Customer
Service Representatives
or ask any of our Tellers
for a direct advance from
your FirstReserve line
in any amount up to your
credit line limit. |
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AUTOMATIC REPAYMENTS
For your convenience, when
you use your FirstReserve
Line of Credit, your payments
are automatically deducted
from your checking account:
$25.00 a month, or 5% of
the current outstanding
balance, whichever is greater.
Of course, you can always
pay part or all of your
balance at any time. And
to simplify your record
keeping, we include your
FirstReserve activity on
your regular monthly checking
account statement. |
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COMPETITIVE INTEREST RATE
The ANNUAL PERCENTAGE RATE
for your FirstReserve Line
of Credit is a variable
rate based on the Prime
Rate as published in the
Wall Street Journal plus
2.9%. This rate is extremely
competitive and is generally
significantly lower than
the rates charged on most
major credit cards. |
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NO WAITING FOR APPROVAL
With FirstReserve, whenever
you need money for unexpected
expenses, investment opportunities,
doctor or dentist bills,
tuition payments, overdrafts,
or anything at all, you
simply write a check from
your own checking account
with FirstReserve up to
your pre-approved credit
limit. Although you may
never need overdraft protection,
it is comforting to know
FirstReserve is there when
you need it. There is no
set-up or annual fee. You
only pay interest on the
money you borrow when you
use your FirstReserve line. |
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HOW TO ENROLL
To request your personal
FirstReserve Line of Credit,
please complete and return
the credit application
to any of our convenient
Banking Center locations
and give your checking
account an automatic financial
cushion. |
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*Credit approval required. |
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FirstReserve Account Agreement |
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