Loans - Home Equity Line of Credit

Home Equity Line of Credit

A Home Equity Line of Credit (often called a HELOC) is a great option for members who need access to funds over a period of time.

A HELOC allows you to use the value that you have built up in your home to borrow the money you need...when you need it.

Similar to a line of credit or credit card, you apply to borrow a specific dollar amount. Once approved, the credit union will advance funds to meet your needs. You only use the funds you require at that time and only pay interest on the loan balance. Use the HELOC to pay for home remodeling projects, tuition, weddings or to refinance high interest loans and credit cards.


  • Loan Special - No closing costs for loans of $20,000 or more for qualified borrowers. $199 Application fee 

  • Subject to certain terms and conditions, variable rate loans are based on prime rate.
  • Subject to certain terms and conditions, fixed rate loans are available. 
  • The minimum loan amount is $7500 and the maximum loan amount is $150,000.
  • Terms up to 20 years are available.

Application Requirements

  • A $199 application fee is due at the time of application.
  • An appraisal may be required when you borrow more than 50% of the assessed value of the property.
  • HELOC’s may be granted on a member’s one or two family, owner occupied primary residence or the member’s secondary (vacation) residence. The property must be located in Monroe, Orleans, Genesee, Livingston, Ontario or Wayne County.

Documents you will need to apply:

  • Bank statements for the past two months
  • Complete income tax returns for the past three years
  • Mortgage statement
  • Two consecutive paystubs for each borrower
  • Paid tax receipts (Town, County, Village and School)
  • Deed to the property
  • Proof of paid homeowner’s insurance
  • Year-to-date Profit and Loss Statement and Balance Sheet (only needed if self-employed)

Easy Loan Payments

  • Automatically take your loan payment from your direct deposit
  • Automatic transfers from your account
  • Set up scheduled or one-time transfers using our Online Banking
  • Make transfers from AnytimeTeller, our 24-hr telephone teller
  • Mail in your payment
  • In person at the credit union office or through our Night Deposit Box

Ready To Get Started On Your Loan?

Apply Today

See All Rates | Contact a Loan Specialist at (585) 247-1090

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