I had 12 cents in savings. It all came out of the LOC. NFCU was not my main bank, though I think I am going to have one of my direct deposits transferred in.
Granted it was all of 73 dollars at the grocery store, but I was curious. My main bank has a OLOC which works with checks but your check card is denied. However, it does let you xfer money into checking online which NFCU does not. (you really don't need to xfer if the card works though.)
Thanks for checking, silverzgirl. I think what I saw may have something to do with cash withdrawals from the LOC, or network ATM's, or both.
And I agree it would be nice to be able to transfer from the LOC directly into your checking account, but I can also see the logic where it's ill advised to tap the LOC for cash you already have since the interest accrues daily. In any scenario where you're holding onto cash (like in anticipation of paying off a credit card balance in a few days), I'm pretty sure you'll just end up paying more in interest versus just tapping the LOC again when you actually need it.
Anyway, I've never had a LOC before, and I am really loving how useful it is.