Example of use – Long-time owner

How can you manage all your credit needs with the Versatile Line of Credit?

To better understand the advantages of this line of credit, let's look at John Cash's financial summary.

Value of the home: $250,000

Mortgage: $60,000

Credit situation	Line of credit available	Total financing used	Average interest rate
Without Versatile Line of Credit	$10,000 application required for additional credit	$99,000	8.53%
With Versatile Line of Credit	$101,000 financing managed by John	$99,000	6.32%

Annual savings with the Versatile Line of Credit: Over $2,000.

Without the Versatile Line of Credit

Without the Versatile Line of Credit, John must apply each time he needs additional financing.

Credit products	Amount	Rate	Term
Mortgage	$60,000	Fixed at 5.90%	5 years
Auto loan (without insurance)	$25,000	Fixed at 12.50%	5 years
Personal Line of Credit	$10,000	Variable at 10.00%
Credit card	$4,000	Fixed at 19.40%
Total financing:	$99,000	Average rate of 8.53%

With the Versatile Line of Credit

With the Desjardins Versatile Line of Credit, John can redistribute his credit products and get much better rates since he took out security of mortgage with his financing.

Versatile Line of Credit (financing available = 80% of the value of the home): $200,000

New credit product distribution	Amountt	Rate	Term
Mortgage	Portion 1: $30,000	Reduced variable at 4.50%	5 years
	Portion 2: $30,000	Fixed at 5.90%	5 years
Versatile Line of Credit (variable portion of the Versatile Line of Credit)	$14,0001	Variable at 5.00%
Secured auto loan	$25,000	Fixed at 9.75%	5 years
Total financing used: Financing still available:	$99,000 $101,000	Average rate of 6.32%

John doesn't have to apply again for additional financing; he can use the funds available as he wishes. In addition to a competitive rate, the Versatile Line of Credit lets him manage his projects or purchases independently from one another and gives him a realistic overview of his credit situation.

	Online	See Versatile Line of Credit.
	By phone (Members)	Montreal area: 514-522-2373 Elsewhere in Canada and the U.S.: 1-800-CAISSES (1-800 224-7737)
	At the caisse (Members and non-members)	Make an appointment with a caisse advisor: online by phone

1. The line of credit and credit card were combined under the Versatile Line of Credit to take advantage of a better rate.