Cash Flow Management

Want to be debt-free sooner?

No one understands your personal and financial goals better than you. And no one will work as hard as you to make sure you stay on track and achieve your goals. Imagine if you had an account that put you in the driver’s seat and addressed most banking needs. Operating Line of Credit (OLC) is an innovative all-in-one account that does just that and, used effectively, could help you save hundreds of dollars in interest payments each year. This could add up to thousands of dollars over years.

Reduce interest payments

  • Consolidate your debt at one low interest rate and use your savings and income to reduce your debt more quickly. Every dollar that you deposit into your OLC account goes against your principal first before interest is calculated, unlike a traditional mortgage payment. Thus keeping your debt and interest costs lower. It’s simple math.

Improve your cash flow

  • OLC offers you a way to manage your income and expenses more efficiently and to spend less each month on interest payments. What you do with that additional cash flow is entirely up to you. You can pay down your debt more quickly, invest in other aspects of your financial plan or anything else.

Enjoy financial flexibility

  • Some traditional banking products restrict you from making additional payments and/or paying off a debt before the end of the term. With OLC, you have the flexibility to increase the amount or the frequency of your debt payments at any time to pay down debt more quickly.
  • Accessing equity in your OLC can be easily done by writing a cheque, making a debit purchase or transferring money electronically. This is truly empowering yourself with your everyday finances.

Simplify your banking with an account for life

  • No more shuffling money among multiple savings accounts and debts. No more wondering if a particular cheque will clear. You have 24/7 access to your account online as well as receive a monthly comprehensive paper statement that shows all of your transactions and provides a clear picture of exactly where you stand financially.
  • When your debt is gone, you can continue to use your OLC account as a high-interest chequing account with a large line of credit that can serve as a financial back-up plan.

Now, that’s a complete banking solution!

Click here for additional information.