Fixed Rate Second Mortgages

Our fixed rate second mortgage financing can be a great choice for debt consolidation or other borrowing needs.

  • The rate is lower for a collateralized loan than an unsecured loan
  • In most cases, interest paid on second mortgages is tax-deductible*
  • Your owner-occupied residence serves as the collateral on the loan
  • There are minimal closing costs, which can often be paid for with the proceeds from the loan.

 

* Please consult your tax advisor or the IRS to confirm the tax deductibility of interest paid on any mortgage-secured loan.


Our Members make the difference.

Member Since 1982

"I decided to become a founder and a member of Genesee Co-op Federal Credit Union because I wanted to help create, support and benefit from a cooperative alternative to mainstream financial institutions. It's important to me to know that my money supports a non-profit, community-based, socially-responsible saving and lending institution. Now more than ever, we need alternatives to the mega-banks that have made such a mess of our economy. I'm proud to have been a part of an institution that has helped thousands of people enter the world of credit, improve their financial standing and be treated with dignity. It's great to have witnessed the credit union’s evolution from a small group of food co-op members into an institution that serves a member-ownership that's diverse in age, race, ethnicity and socio-economic circumstance."

David Knoll


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