A good life means protecting what’s important.
A CheckReserve Line of Credit can be a big help.
Wherever you are in life, you want to preserve what you have. But there are always challenges – unplanned expenses, unexpected emergencies and even the timing of when bills arrive – that can leave you with a little less in your checking account than anticipated. Getting a CheckReserve Line of Credit from the Merrimack can make a key difference.
Prevent Overdrafts Automatically
The CheckReserve Overdraft Line of Credit allows qualifying* customers access to a line of credit that enables funds to be automatically transferred into their checking account to cover items beyond their account balance.
The basics of the program are:
- The Merrimack will automatically transfer funds in $100 increments up to your pre-approved amount to cover an overdraft in a personal checking account.
- Pre-approved lines may be as small as $500 or as large as $5000 depending on your preference and qualification.
- You can opt to pay back the line through automatic monthly deductions from your checking account.
- No prepayment penalty.
- An annual fee of $30.
- Fixed 15% APR (Annual Percentage Rate).
*Please note that CheckReserve Overdraft Line of Credit is subject to approval and certain restrictions may apply.