Monthly Line of Credit

The Equity’s Monthly Line of Credit program is our most popular option for customers. This program allows customers to make charges within The Hardware Do It Center, Fuel Pumps and receive Propane over the course of a calendar month and then pay for those charges by the 12th day of the following month. A copy of The Equity’s Credit Policy can be downloaded here.

Frequently Asked Questions for Monthly Line of Credit

How to Determine What I Owe When I Receive A Statement?

• When you receive your statement in the upper righthand there will be a total amount due. If this amount is negative, it generally means there is a credit balance on your account. If you go to the end of your statement there will be a summary of accounts including current, 1-30, 31-60, over 60, over 90, unapplied, budget billing and prepay. Here you will be able to determine the amount due. Unapplied is a credit balance on account.

Guide to Reading Your Equity Statement

When will I receive my statement?

• Statements are mailed out the first business day of the month.
• Statements are sometimes delayed due to the month ending on a weekend and federal holidays. If the last day of the month falls on a Friday or Saturday, statements will be mailed on the following Monday or business day. New Year’s Day, Independence Day and Labor Day holidays will also delay the mailing of statements due to closure of the post office and our corporate office. For these reasons, The Equity recommends My Farm Records to ensure prompt receipt of your statement when they are printed on the last day of the month in the form of an electronic copy. For more information on My Farm Records click here.

When is my payment due?

• All transactions invoiced in the span of a month are due the 12th of the following month. For example, a customer receives propane on January 4, uses the self-serve fuel pumps on January 15 and purchases pet food from the Hardware Do It Center on January 31. All three purchases will be due in full on February 12 to avoid late charges.

What is a Late Charge?

• Late Charges are applied to accounts that are not brought current by the end of the business day on the 12th of the month. Late Charges are 5% of the total amount due by the 12th of the current month.

What is a Finance Charge?

• Finance Charges are applied to accounts that are not brought to current by the end of business day on the last day of the month. Finance Charges are 2% monthly, or 24% annually, of the total amount unpaid by the end of the month, excluding late charges that are on the account.

What is Delayed Billing?

• Delayed Billing is available for products and services depending upon the marketing program in affect at any given time.
• Delayed Billing is available to agriculture propane customers through our Summer Fill Program. Customers have the option to have their propane tanks filled during May, June, July and August and full payment is not due until October 12th.