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Lines of Credit and Overdraft Protection

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Access money when you need it

When you find a mint condition Teemu Selanne rookie card, make sure you have money available to buy it.

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Line of Credit

A pre-determined credit limit for when you need to make purchases on the fly.


Overdraft Protection

Put a buffer in place to ensure you never bounce a cheque again.



Afford more food than just ramen with a Student Line of Credit.


Why choose Stride?

Boost your savings

Shelter your investments from taxes and give them an extra boost with a TFSA from Stride Credit Union. Find out how!

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Untitled design (46).png

​Mortgage questions?

From affordability to type of mortgage, our experts are here to answer all the questions you have.


Getting a line of credit is as easy as:

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Book a chat

Book a chat or appointment with us, so we can collect the information we need. 

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Get a decision
We’ll personally review your application and let you know within 24 business hours if it has been approved.
Sign and finalize

If approved, simply book a time in-branch to finalize the paperwork or e-sign from home.


Your line of credit questions answered

A loan is a fixed amount of money with a fixed repayment period. It's fairly straightforward. You know what you'll borrow, for how long and how much you'll pay. Easy, right?

A line of credit is a revolving loan that lets you borrow up to a certain approved limit. You only pay interest on the amount that you have used and the interest rates are generally lower than what you'll pay with a credit card. You may want to set up a line of credit so you are prepared for emergencies, or you may want to pay off a higher interest credit card. A line of credit can also offer you protection against overdrawn accounts.

Making payments on time is the most important action you can take to improve and maintain a good credit score. 

Lines of credit (LOC) and overdraft protection are very similar in how they operate.  

  Line of credit OVerdraft protection
Approved limit $5,000 + Under $5,000
Interest rate Lower than overdraft protection (see current rates) Typically higher than an LOC (see current rates)
Attached to chequing Can be attached to everyday chequing Always attached to everyday chequing

To get started on an application, or to find out more information, reach out to our fantastic advisors at your local branch

Yes, interest on a line of credit is usually calculated monthly through the average daily balance method. Your payment is the amount of interest that accumulated in the previous month. Of course, line of credits are considered "open" credit products, which means you can make extra payments without penalties. 

Have more questions?

Don’t hesitate to reach out! Our experts will happily help you figure out your options and what they mean for you.

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Ready to get set up?