Home Equity Loans | Members Choice Financial Credit Union

Home Equity Loans


• Rate as low as 1.89% APR*
• Fee waiver for limited time – excludes Appraisal fee*

Win a trip to the Kalahari Resort

3 Easy Ways to Apply

Questions?  Call 800-834-0082 or contact us

Home Equity Loan-Principal Residence
Annual Percentage Yield
Fixed Term80% Loan to Value
24 months1.89%
36 months1.99%
84 months3.69%
120 months3.99%
180 months4.69%
240 months5.99%

There are many advantages of being a home owner! The equity in your home may allow you to:

1. Invest in your child’s future

  • Using home equity loans for education is another popular choice, with the skyrocketing costs of post-secondary education and higher incomes that don’t qualify for special grants and government-backed loans.
  • Home equity loans used to pay for education are an investment. An educated son or daughter is more likely to be financially independent sooner and building his or her own wealth rather than draining yours.
  • Unfortunately, college for your kids comes just about that time when you are nearing retirement and may consider home equity loans to offset your reduced income. Don’t over look special educational loans, tax write-offs and scholarships to meet your children’s educational needs.

2. Put the money back into your home to update, renovate or expand.

  • With carefully planned and professionally completed work, homeowners put home equity loans back into their homes by adding more square footage, bringing the home up to current building codes, and upgrading to a contemporary home design.
  • To make the loan the most effective at increasing property value, reliable contractors and well-planned renovations are a necessity.
  • The best improvements from home equity loans increase the fair market value of your home. Remodeled rooms, particularly kitchens and bathrooms, add the most value. Additions are fine also, as long as you don’t over build. Additions should blend with both your home’s existing style and the design of the homes in your neighborhood. Interior painting, carpeting and the like probably won’t add much value, but those cosmetic touches will increase the appeal of your home.

3. Consolidate Debt

  • Eliminate higher-rate debt, like the debt accrued on credit cards. Home equity loans can pay them all off leaving you with one monthly bill that’s probably smaller than the others combined.
  • There’s also a good chance the interest rate will be half what you were paying on just one credit card. The rate on home equity loans is cheaper because, unlike credit cards, the debt is secured by your home.
  • Additional debt-cost savings are available because with the consolidation you’ll be able to pay off your debt sooner. Along the way you may be able to deduct the interest, up to the legal limits allowed for home equity loans.

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***APR- annual percentage rate. APR is subject to change without notice. Minimum amount is $10,000 borrowed at 1.89% APR. Eligible loans: New money loans Refinance with additional $10,000.00 only. Excluded from this promotion: Rate and Term Refinance. ***Fees waived include: Property search, flood search, tax monitoring fee and recording fee. Fee waived excludes appraisal fee. Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Property insurance is required. Membership eligibility is required – Click “Join us” under “Field of Membership”. An optional automatic payment from your M-C FCU deposit account is available upon request.

Credit Union Promotional Sweepstakes Terms & Conditions

No Purchase Necessary.

Sweepstakes period: Sweepstakes begins April 15th, 2016 and ends June 30th, 2016. Winner will be chosen in random drawing on July 1st, 2016.

Eligibility: Open only to U.S residents. Void where prohibited. To qualify for the sweepstakes, all entrants must be eligible for membership at Members Choice Financial Credit Union and be at least 18 years of age. By entering this sweepstakes, entrants accept and agree to be bound by these Official Rules and the decision of Members Choice Financial Credit Union. One (1) entry per individual only.

To enter: You will automatically be entered for a chance in the sweepstakes giveaway upon application for a new Home Equity loan with Members Choice Financial Credit Union. You may apply for a Home Equity loan in one of the following three easy ways: online application via mcfcu.org, loan by phone via (866) 265-4255, or your nearest branch location. Each sweepstakes entry has an equal chance of winning; odds of winning are based upon the number of entries. You may also enter by sending in a 5 x 7 index card to Members Choice Financial Credit Union, c/o Marketing Department to 230 Walnut St. Danville, PA 17821. Include your name, mailing address and telephone number. Mail in entries must be received by June 7th, 2016. Proof of mailing does not constitute proof of delivery. Members Choice Financial Credit Union is not responsible for lost, late, incomplete, or illegible entries submitted by mail. Only one entry per person, regardless of method of entry. Additional entries will be eliminated.

Prize: Getaway to Kalahari Resort and Convention Center

General Conditions: Members Choice Financial Credit Union and each of its employees, board, members and representatives are not responsible for any claims, liability, injury, or other damages of entrants and/or winners arising from, or in conjunction with acceptance, receipt, possession, or use/misuse of prize. Employees, relatives, and board members of the credit union are not eligible. Consult your tax advisor about potential tax benefits. Entrant waives the right to claim any damages whatsoever including, but not limited to punitive, consequential, direct or indirect damages.

Use of sweepstakes information: Members Choice Financial Credit Union reserves the right to use any information related to the sweepstakes, including information obtained through the sweepstakes for marketing and promotional purposes, unless prohibited by law, By entering, winner authorizes use of photo or likeness, and their name, to be used by Members Choice Financial Credit Union for promotional purposes.

Winner: Need not be present to win. Winner will be notified by phone. M-C Credit Union officials, employees, and their immediate family are ineligible to win.