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Oakland Tribune Newspaper Archives May 3 1977, Page 25

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Oakland Tribune (Newspaper) - May 3, 1977, Oakland, California Oak Kofi Tribune tues., May 25 straight talk 15. Instant do it yourself loan. The convenience the extra Ost you find a great old Roll top desk for but you Only have in your cheating account. Obviously you Don t want to bother getting a loan for that amount. But you still want the desk. So what do you do simple. You write a Check for the full amount. And instead of returning the Check your Bank covers it automatically and happily. A dream nope. It s actually a Way to borrow Money that a lot of Banks offer. At Ucb we Call it balance plus5 line of credit. Now there s no question that writing your own loan is convenient. The question is is that 18% annual interest you pay really Worth it sometimes it is. It s Worth it when you need to get Money in a hurry. And without any hassle. when the car decides to fall apart. Or when you get clobbered with a big doctor or Hospital Bill. Or a huge tax bite. Or some other Surprise. It s Worth it when it can help you take advantage of savings you d miss out on otherwise. Like when you run across a great Sale on the refrigerator you be been needing but you Don t have the Cash. Once you be qualified for balance plus line of credit you can write your own loan immediately without filling out any new forms or even coming into the Bank. Sometimes it int. Like All Loans it s not Worth it when your real reason for using it is to live higher on the hog than you can afford. Or when you re already too deep in debt. It s not Worth it when getting the Money immediately in t a Factor. Like when you re planning on buying a color to that in t on Sale. And you re not planning on repaying the Money soon. Then you re better off getting a regular loan. It s not As convenient. But you la probably get a lower interest rate. It s also not Worth it in our opinion when a Bank makes you borrow and pay interest on some preset minimum amount More Money than you really need. More on that later How does it work at Ucb you can write your own loan two ways 1. You can fill out a Deposit order and take it or mail it to any Ucb office. Well Transfer the amount into your Ucb regular checking account then and there. It s the easiest Way to keep track of How much you borrow. 2. You can write a Check for More than you have in your checking account up to your credit limit of course and Well automatically Deposit the Money you need into your Ucb checking account. How much can you borrow when you qualify for balance plus line of credit we set up a maximum amount you can borrow. It generally ranges from up depending on your income and credit history. We also have a special balance plus line of credit that lets Youbou roup to of your income if you Quality. Ask your Ucb loan officer for details. How else can it help you Ucb s balance plus line of credit can also provide a Check guarantee. It identifies you to any of the Many participating merchants throughout California who will accept your personalized Check for up to it also identifies you at any of Ucb s More than 260 offices in California where you la be Able to Cash a Check for up to lots of Banks have this service. What makes Ucb s better very simple. Many Banks make you Borro amounts whether you need it All or not. Say for example you write a Check for More than your balance shows. Some Banks will Transfer to your checking account to cover the overdraft. You have to pay Back plus the finance charge on and maybe even a Transfer fee. Ucb transfers Only to your checking account. You pay Back just plus the finance charge on nothing More. Ucb Only transfers to the next highest Dollar amount with no Transfer fee at All. How do you qualify also very simple. Come into any Ucb Branch and fill out our All purpose personal credit application. If you Quality Well give you balance plus line of credit. If you have any questions we Haven t answered Here come in and ask us. A straight answer is something everybody qualifies for at our place. Get it straight from Ucb. United California Bank member f i c

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