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Scheduled maintenance will occur on Saturday, December 14th, from 6 AM until approximately 4 PM. The following services will be unavailable: MEMCU Online, MEMCU Mobile, Tell-Com, Online Loan Applications, and Online Account Opening. ATM, and Visa transactions will be available but limited.

Equity Access Credit Line

(Only available in North Carolina)
Call 800-951-8000 to apply.

Open an equity line of credit with our Equity Access Credit Lines, a ten-year, revolving line of credit from $10,000 to $100,000 to take care of current AND future borrowing needs. Credit lines are determined by the amount of equity in your home. They remain open for up to ten years and you have 15 years to pay the loan off completely.
Equity Access is a variable rate loan. Payment adjustments can occur monthly and at the time an advance is taken on the line of credit.

You may roll the closing costs of your Equity Access Loan into the loan proceeds. Some of the closing costs for an Equity Access line include a title opinion (only if Line of Credit exceeds $50,000). An appraisal may be required, as well as a flood certification.

 

Frequently Asked Questions

What is a Home Equity Line of Credit (HELOC)?

A Home Equity Line of Credit (HELOC) is a flexible, revolving line of credit that allows you to borrow against the equity in your home. At Members Credit Union, our Equity Access Credit Line offers a ten-year revolving line of credit ranging from $10,000 to $100,000. This credit line can be used to meet both current and future borrowing needs, with monthly payment adjustments and a 15-year repayment period. You can also roll closing costs into the loan. Call 800-951-8000 to apply.

How can I use a HELOC?

A Home Equity Line of Credit (HELOC) from Members Credit Union is a flexible way to access the equity in your home for various financial needs. You can use it for home improvements, consolidating debt, covering education expenses, or even handling unexpected emergencies. With a revolving line of credit from $10,000 to $100,000, you can borrow as needed during the 10-year draw period and repay over 15 years. Call 800-951-8000 to apply and discuss your options today.

Am I eligible for a HELOC?

Eligibility for a Home Equity Line of Credit (HELOC) with Members Credit Union depends on factors such as the equity in your home, your credit history, and your ability to repay the loan. Generally, you must have sufficient equity in your home and meet creditworthiness requirements. To determine your specific eligibility and to learn more, contact Members Credit Union at 800-951-8000.

How much am I eligible to borrow?

At Members Credit Union, your borrowing eligibility for a home equity line of credit depends on the amount of equity in your home. With our Equity Access Credit Lines, you can borrow between $10,000 and $100,000, determined by your home’s value and existing mortgage balance. This line of credit remains open for up to ten years.

What's the difference between a HELOC and a home improvement loan?

A HELOC (Home Equity Line of Credit) and a home improvement loan both offer ways to access funds for home projects, but they differ in structure. A HELOC from Members Credit Union is a revolving line of credit, giving you flexibility to borrow as needed, with payments based on the amount used. A home improvement loan is a lump sum with fixed payments over time. Choose a HELOC for ongoing projects or a home improvement loan for a specific budget. Call 800-951-8000 to apply.

Will I have to pay an application fee?

At Members Credit Union, there is no application fee for opening an Equity Access Credit Line. You can enjoy the benefits of this ten-year revolving line of credit without worrying about upfront costs. For more details or to apply, call 800-951-8000.

Do I receive the loan amount over time with a HELOC?

With a Home Equity Line of Credit (HELOC) from Members Credit Union, you receive a revolving line of credit that allows you to borrow as needed over a 10-year period, rather than receiving a lump sum upfront. You can access funds as you require, up to your approved credit limit, and only pay interest on the amount you use. This flexibility makes HELOCs ideal for ongoing expenses or projects. To learn more or apply, call 800-951-8000.

How much time will I have to draw funds from the HELOC?

With Members Credit Union's Equity Access Credit Lines, you have up to ten years to draw funds from your Home Equity Line of Credit (HELOC). This ten-year period allows you the flexibility to borrow as needed, whether for immediate or future expenses. For more details or to apply, please contact us at 800-951-8000.

How much time will I have to repay the HELOC?

With Members Credit Union's Equity Access Credit Line, you have up to 15 years to repay your Home Equity Line of Credit (HELOC). The loan offers a flexible repayment schedule that adjusts as needed, with payments that can change monthly based on the variable interest rate. The line of credit remains open for 10 years, during which you can borrow as needed. After this draw period, you have up to 15 years to pay off the balance. To apply, call 800-951-8000.

What can I expect when my HELOC draw period ends?

When your HELOC draw period ends, you'll enter the repayment phase, where you no longer have access to borrow funds and would continue to make principal and interest payments until the loan is paid in full. Members Credit Union offers flexible repayment terms, giving you 15 years to fully pay off your Equity Access Loan. Payments are adjusted based on your remaining balance and interest rate. For detailed information or assistance, contact us at 800-951-8000.a

 

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Call 1 (800) 951-8000

AUTO LOAN
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4.75%

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3.51%

SUPER 60
CURRENT APY UP TO
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