A Home Equity Line of Credit (HELOC) is a
form of a Home Equity Loan with a credit limit that
members may borrow up to. Payments are made by
transfer monthly and are 1.25% of the outstanding loan
balance at month end.
Rapid Advance
Rapid Advance is a line of credit with a
credit limit that is used to protect against overdrafts
in share draft accounts. With Rapid Advance
transfers funds in increments of $100.00 into your share
draft account to cover drafts/checks that would have
overdrawn the account. Payments are transferred
monthly from a predetermined member account and are
based the loan balance and a payment table.
Signature Line of Credit
A Signature Line of Credit (SLOC) is a
line of credit loan that is collateralized only by a
signature. This loan can be advanced in person, by
VIC, or by Home Financial Services (HFS). Payments are transferred monthly
from a predetermined member account and are based the
loan balance and a payment table.
