Loan Accounts


This type of loan offers distinct advantages over other forms of financing:

  • Rates are typically lower because it is a secured loan
  • The interest paid is usually deductible for income tax purposes.  Please consult a tax advisor.

The member does not have to pay points, closing costs, appraisal fees or any other charges associated with the closing of the loan. All such charges are paid for by the credit union.

These loans are generally offered with terms of up to 10 years and carry a fixed rate of interest that will not change over the term of the loan.

So, if you need money for home improvement, education, debt consolidation or any other worthy purpose, check out a Home Equity Loan.


Verification of income

  • Employment Income – Most recent pay stub or recent W-2. If self-employed – Most recent Federal Income Tax Return
  • Rental – Lease agreement
  • Alimony or Child Support – Court Decree (if applicable)
  • Pension or Investment – Check voucher or statement of account showing regular deposit.

Legal Description:

If you have NOT had a prior Home Equity loan with us, we need a “legal description” of your property and the exact names in which title is held. Both can be obtained one of two ways:

  • If you have or had a mortgage on the property, look for the mortgage deed sometimes titled “Open-end Mortgage Deed” among the documents you received from the lender. The “property description” which describes the land on which your home resides, is normally contained within that document and most frequently the last page as an attachment. If located, we will need to copy the pertinent pages of the deed.
  • The Town Clerk’s Office of the town in which your property is located can provide you with both a copy of the “legal description” and the exact names of the titleholders.

Apply for a Home Equity Loan Current Rates