Home Equity Line-of-Credit (HELOC)
Our HELOC is a terrific way for members to use the equity in their home to make home improvements or have access to cash for other needs. We offer a very competitive HELOC rate and we pay the closing costs!
If you are already a member you can apply now by filling out our online application.
- The minimum HELOC is $10,000 and the maximum is $75,000.
- This is an adjustable rate line-of-credit with an initial minimum disbursement of $5,000 and $500 minimum disbursements thereafter.
- Properties must be owner-occupied, and the HELOC credit line and any first mortgage must be the only liens on your home, and together total 90% or less of the property's appraised value.
- In most cases, interest paid on a HELOC is tax-deductible (subject to IRS guidelines)
For more information please contact Benat">pooc.eeseneg@nad call ext 115
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."