Chesterfield Federal Credit Union is proud to offer the convenience of our Home Equity Line of Credit. With a quick application, a fast and easy approval process, a variety of payment options and great rates, Chesterfield Federal Credit Union is the only place you need to go when considering a Home Equity Line of Credit.
You can use the proceeds from your Home Equity Line of Credit for:
Whatever your reason may be, a Financial Services Representative is always willing to sit down with you and discuss which product is best suited for your specific needs.
Chesterfield Federal Credit Union's Home Equity Line of Credit can save you money on interest charges too! Because the loan is secured by the collateral in your home, the interest rates on our product is much lower than many other loans. And the interest you pay may even be tax deductible!^ And that means more money in your wallet!
Financing available for up to 85% of the available equity in your home
Help preserve your standard of living. Whether you're taking out a loan to make home improvements or buy a vehicle, it can be a financial gamble because the unexpected can happen at anytime. You’re betting you won’t lose your job (through no fault of your own), or become disabled (due to injury or illness), or pass away, leaving your family responsible for your loan balance. Life events can cause financial hardship, making bill-paying difficult. You don't want delinquent payments and defaulted loans to cause you to lose your assets, negatively impact your credit rating, or cause financial distress for your family.
CFCU Safety Net* is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly occurs. And, simple eligibility requirements ease the enrollment process.
If your loan is protected and a life event happens to you, CFCU Safety Net* will cancel or reduce repayment of your loan debt - helping to lessen worries about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging. Protected events include:
Life Plus adds protection for financially-stressful life events such as accidental dismemberment, terminal illness, hospitalization, family medical leave, and the loss of life of a non-protected dependent.
Because each member has different needs, we offer three different options for protection with CFCU Safety Net:
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