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EZ Line of Credit

The easy way to access cash.

Call 1-800-621-2105 to Apply

EZ Line of Credit Interest Rate  APR 
EZ Line of Credit 11.74% 11.74%

Rates effective as of April 1, 2023, and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates. Subject to credit approval.

EZ Line of Credit

Get peace of mind that there's available cash when needed.


  • Easy access to funds when you need them
  • Credit lines from $500 to $2,500
  • 6-12 month repayment term
  • Can be used as overdraft protection on your Elements checking account 
  • Monthly payment is only 3% of the monthly outstanding balance

Call 1-800-621-2105 to Apply


  • You need to cover unexpected expenses, like car or home repairs or medical bills
  • You want a revolving credit line that allows funds to be borrowed, repaid, and borrowed again
  • Trade-off: Interest rate is generally higher than a loan secured with collateral (such as your home)

So, what exactly is a line of credit?

Woman getting her refrigerator repaired

A line of credit is money you have at the ready when you need it. You will be approved to draw up to a certain amount on the line of credit, and then you pay interest on what you borrow. If it turns out you don’t need to use the money, you are not charged interest. So you borrow the money by transferring it to your Elements checking account, pay it back, and then borrow it again if and when you need it.

Can I really use it on anything I want?

A man fixing his car

Yes, you really can! You can use your Elements EZ Line of Credit to finance unexpected expenses, such as:

  • Unexpected emergencies
  • Home repairs
  • Medical bills
  • Debt consolidation
  • It's up to you!

How do I access the funds?

A woman shaking hands with her doctor

You can access funds simply and easily by transferring funds from your EZ Line of Credit to your Elements checking account within Online Banking.

You can access as much or a little as you need from your Line of Credit, whenever you need it, up to the credit limit established at closing. Much like a credit card that allows you to borrow against your spending limit as often as needed, the EZ Line of Credit gives you the flexibility to borrow against your credit line, repay, and repeat.

How does an EZ Line of Credit compare to other choices for unexpected expenses?

There are benefits and trade-offs to all loans, especially when it comes to paying for unexpected expenses. Compare different types of loan products in the chart below to determine which is best for your needs. As always, your support team at Elements is ready to help you find the product that is best for you—just give us a call at 1-317-542-5055.

  Certificate Loan Personal Unsecured Signature Loan Home Equity Line of Credit Platinum Visa Credit Card
What It Is

Borrow funds using your Elements Certificate as collateral

Loan for a set amount

Borrow money without using collateral

Loan for a set amount

Borrow funds using the equity in your home

Revolving credit line for the 10-year draw—use, repay, repeat

Borrow money without using collateral

Key Benefits

Lower interest rate than many conventional loans

Fixed monthly payments

Lowest interest rate

$200 Cash Bonus1


2% above your certificate's earning rate

4-year fixed: 9.84%

Intro APR for 6 months: 3.99%

Variable APR after 6-month intro period: As low as 8.00%

Intro APR for 6 months: 0%

Variable APR after 6-month intro period: 13.74%

A Good Option for a Major or Unexpected Purchase If You

Own an Elements Certificate

Want to establish credit

Want predictable monthly payments that stay the same

Don't own your home

Want predictable monthly payments that stay the same

Own your home

Want the flexibility of using funds whenever you need them

Want a lower payment

Don't own your home

Have the means to pay off your balance right away

Can Use It For


Consolidating loans

Paying off credit cards

Anything! Purchases such as:

- Unexpected emergencies
- Home improvements
- College
- That big vacation
- A new car
- A second home
- Debt Consolidation


Best for smaller, everyday purchases

No Prepayment Penalties
No Annual Fee
Available Amounts

Up to the full amount of your certificate

Borrow up to $25,000, based on credit rating

Whatever your available equity is in your home

Borrow up to $25,000 based on credit rating

How is an EZ Line of Credit used for overdraft protection?

An Elements EZ Line of Credit can serve as money set aside for unexpected expenses, such as an overdraft. Money automatically transfers from your EZ Line of Credit to match the exact amount of your checking account overdraft. Once the money is transferred away from the EZ Line of Credit, you have a monthly payment of 3% of the outstanding balance. Your credit line can be between $500 and $2,500, and your overdraft coverage would be up to the limit you have established. You don’t pay interest on a line of credit until or if you take money from it, so this can act as a good safety net for those unexpected expenses.

The cost per transfer is $5 plus 3% interest on your Line of Credit balance.

To get started, contact Elements at 1-800-621-2105 to apply and connect the line of credit with your checking account to establish overdraft protection.

Learn More about Overdraft Protection

What are the fees?

A family blowing bubbles outside

There are no closing costs, prepayment penalties, or an annual fee associated with an EZ Line of Credit.

Does Elements Financial offer debt consolidation loans?

Couple with their laptop on the couch

We do offer consolidation loans to consolidate bills and pay off other debts. An EZ Line of Credit (see information on this page) can be used for that purpose. Other options available to most members include other Personal Loans, Home Equity Loans, or even a first mortgage refinance with a debt consolidation option.

Why should I go to Elements for my line of credit?

A woman paying for drinks with her phone

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. We come to your workplace to answer questions and can provide you with one-on-one assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 4% of credit unions nationally2. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

How do I apply?

A screenshot of our online application.

3 Easy Steps to Apply

  1. Call 1-800-621-2105 to get started. Have ready your government-issued ID (driver’s license, state ID, or passport) and your social security number.
  2. Take our call - We'll contact you within one business day after you submit your application to go over what documentation we'll need and to answer your questions.
  3. That’s it! - We'll contact you with a decision within 10 business days. Once approved, your line of credit is open and ready to use!

Call 1-800-621-2105 to Apply

  1. 1 Credit Card Related $200 Cash Bonus Value Offer — requiring at least 10 card purchase transactions totaling at least net $1,000 within 90 days of card approval — will be fulfilled as a one-time $200 statement credit. Statement credit will not reduce your monthly payment. If the account is closed within six months, we reserve the right to add the amount of the statement credit back to your account balance at that time. Secured Credit Card excluded. Existing or previous Elements credit cardholders not eligible.  /  Offer subject to credit approval and may be taxable. Elements reserves the right to amend or discontinue offers at any time. Additional terms and conditions may apply. Please allow 4-6 weeks after qualifications are met for receipt of a statement credit. Product offers cannot be combined with other promotional offers for the same product. One offer per household.
  2. 2 Based on asset size as of 12/31/2021