Home Equity Lines of Credit (HELOCs)

The Benefits of a Home Equity Line of Credit

Borrowing against the available equity in your home will allow you to fund those much-needed home improvement projects, consolidate debt, pay for college, and more. No matter how you use it, a Home Equity Line of Credit makes it convenient and affordable to access cash.

To complete the application packet electronically click on one of the links below. This will take you to a program called DocuSign which will allow you to securely fill out and submit your application.

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To apply by email, simply download the Loan Application Form and submit the completed form to HEprocess@mhcu.org

Questions? Contact the Lending Department at 859.259.3466 x 7289

Live Life on Your Terms. Access Funds When You Need Them Most.

Unexpected expenses are a part of life. A Home Equity Line of Credit (HELOC) from Members Heritage Credit Union provides you with the flexibility to access funds whenever you need them. Consolidate high-interest debt, cover home improvement costs, or manage surprise expenses – the choice is yours. With a HELOC, you only pay interest on the funds you withdraw, offering you financial security and control.

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How Home Equity Lines of Credit Work

With our Home Equity Line of Credit, you have a 7-year period where you can draw freely from the available funds. Then, once that period concludes, the 15-year repayment period begins. However, since there are no prepayment penalties, you do not need to take the full 15 years to repay the loan.

Here are some additional loan details you should know:

The minimum loan amount is $10,000.
The minimum 1st-time advance is $500.
Subsequent advances can be $100 or more.
You’ll get easy access to your funds through your Share Draft (Checking) Account.
The property deed associated with this loan must be in your name, and the title must be clear.
The property must also be your primary residence.

If you want to learn more about Home Equity Lines of Credit, we recommend a helpful guide from the Consumer Financial Protection Bureau.

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Home Equity Line of Credit

Effective Date: 5/1/2025

Type	Rates as low as	APR*
Home Equity Line of Credit	7.50%	7.50%

*APR = Annual Percentage Rate. Rates may vary depending on your creditworthiness. Please ask a Member Service Officer for details regarding how your rate is determined.

**All rates are subject to change.

What Our Members Are Saying

Been with MHCU for 35 years, since it was known as the IBM Employees Federal Credit Union. No reason to bank elsewhere. They have serviced all my share account and loan needs; on my 4th home mortgage with them.

W. B.