When it comes to financing, flexibility is key. Turn your home equity into a line a credit that’s there exactly when you need it.

Rates

Key Features

  • Competitive Rates
  • Anytime Funds
  • Quick Decisions
  • Local Service
  • Turn the equity in your home into ongoing, affordable financing
  • Includes 1.75% APR1,2 intro rate
  • Competitive rates for several ongoing or seasonal needs:
    • Education expenses
    • Major life events
    • Major home improvements
    • Debt consolidation
    • Emergency reserve
    • And much more
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • Funds easily available via in-person or phone transfers to a specified Worcester CU checking account
  • The interest paid might be tax deductible3
  • Set up automatic payments to be deducted from your account monthly
  • Quick, local decision-making and processing
  • Attentive, friendly service from start to finish

1Annual Percentage Rate (APR) is accurate as of 07/31/2020 and is subject to change after the account is opened. An introductory APR of 1.75% for the first twelve billing cycles. Thereafter, the APR will be set on the last business day of each month, which will be either a floor rate of 3.50% APR or 1% below the US Prime Rate as published in the Wall Street Journal on the last business day of each month, whichever is greater.

2Rate will not go below 3.50%. The US Prime Rate on July 31, 2020, was 3.25%, resulting in a non-discounted APR of 3.50% due to the floor rate. Maximum APR is 18%. If appraisal is required, the charge will range from $400 to $550. Offer applies to owner occupied primary residences only. All requests subject to credit approval. Maximum repayment period is 20 years. Early Termination Fee: If the Line of Credit is paid off and borrower requests a discharge of mortgage within 36 months of account opening, an early termination fee of $500 will be charged. All credit union loan rates, terms, conditions are subject to change at any time without notice.

3Consult a tax advisor.

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Worcester Credit Union is insured by both National Credit Union Administration (NCUA) and Massachusetts Credit Union Share Insurance Corporations (MSIC). The NCUA insures all deposits up to $250,000 per account owners. All deposits above the NCUA limits are fully insured by the MSIC.