Letters of Credit are guarantees of payment requested by third parties issued by the credit union. They help you make purchases or transact business with companies and/or government with whom you have limited trading experience or credit history. In addition to demonstrating your credit worthiness it can give you greater access to key suppliers and may assist you in securing contracts. 

Examples

• A Safekeeping Agreement from various forms of government
• Letters of Credit for the liquor distribution board
• Letters of Credit for construction bidding processes

Process

• You make a deposit with us 
• We then give you a letter verifying that we'll be responsible for your debt
• You send the letter to your potential creditor or third party

Features & Benefits

• The aggregate maximum letter of credit is $250,000
• Fully secured letters of credit may exceed $250,000
• Maximum term is one year
• Quick turn-around times
• Competitive rates