Conveniently advance funds as you need them:
- Advance funds yourself via online our HOMEBRANCH 4 or through your smart device via MOBILEBRANCH5 to your credit union accounts to be accessed through your checking account or transferred to another financial institution via A2A.
- Advance funds over-the-phone or in-person at the credit union. Funds can be deposited in your credit union accounts or we can cut a check to you.
- Advance funds with special Home Equity checks.
We even give you the ability to LOCK all or a portion of your balance in to a low fixed rate home equity loan!2
Apply online today to get the process started. For more information, send us a message or give us a call at 402-544-2500 or 800-370-2260 (Toll-Free).
Home Equity Line of Credit LOCK Program
Members can lock in a portion of their outstanding balance on their HELOC for a LOCK Fee of 1% loan balance. This balance will be transferred to a new loan account with a payment based on the maturity of the “parent” HELOC. This amount will be deducted from the available credit limit of the “parent” HELOC. The remaining credit limit can’t be increased unless the HELOC is refinanced.
The minimum balance to LOCK is $10,000. Members may have multiple LOCK sub-accounts up to the maximum credit limit of the “parent” HELOC. Subaccounts can’t be combined unless “parent” HELOC is refinanced.
LOCK rates will be based on the current program rate, not promotional rate.
HELOC Program Details
Draw/Repay |
10-year draw with 15-year maturity. |
Advances |
Member Check – POSDirect Transfer to CU Checking – Online (Web/Mobile)/Call Center/In-BranchCash Withdrawal from Teller – In Branch Official Check – Call Center/In-Branch |
Advance Fee |
None. |
Switch to Fixed Rate |
1% of outstanding balance with a minimum $100 fee. |
Index Base |
Prime Interest Rate based on 13-week benchmark. |
Minimum Payment |
Outstanding Balances / Months to Maturity, $100 minimum payment.Recalculates if rate changes or advance – EOM + 30 days. |
Late Fee |
5% of payment. Late payment should reflect towards minimum payment. |
Payment Allocation |
Fees + Interest + Principal Rate |
Re-calculation Period |
Quarterly |
What happens at maturity? |
If paid in full, lien is released with paid lien release fee. |
Dormant Fee |
If paid in full, lien is released with paid lien release fee.Dormant Fee: $10 a month after 12 months with no activity or balance. |
Closing Costs |
Flood/Valuation/Search/Documents/LienNotation/Closing Fee |
HELOC Rates
Index Rate (Prime Interest Rate)
|
8.50% 10/1/2023 |
|
Rates As Low As* |
||
HELOC ≤ 80% Cumulative Loan-to-Value |
||
| Program Rate | 8.25% | |
| LOCK Rate 2 | 8.25% | |
HELOC ≤ 90% Cumulative Loan-to-Value |
||
| Program Rate | 8.75% | |
| LOCK Rate 2 | 8.75% | |
HELOC ≤ 100% Cumulative Loan-to-Value |
||
| Program Rate | 10.50% | |
| LOCK Rate 2 | 10.50% |
* APR is Annual Percentage Rate. Actual Rate will vary based on your creditworthiness and Loan-to-Value. Home Equity Line of Credit (HELOC) is a variable interest loan product in which the rate may be adjusted on a quarterly basis based on the Prime Interest Rate plus a margin based on your program. Maximum interest rate is 18.00% APR. All loans are subject to approval.
2 Members may LOCK in a portion of their balance at a fixed rate for the life of the loan based on a fee of 1% of the outstanding balance. Your credit line may be adjusted based on the portion you lock-in at fixed rate.
* APR is Annual Percentage Rate. Actual Rate will vary based on your creditworthiness and Loan-to-Value. Home Equity Line of Credit (HELOC) is a variable interest loan product in which the rate may be adjusted on a quarterly basis based on the Prime Interest Rate plus a margin based on your program. Maximum interest rate is 18.00% APR. All loans are subject to approval.
2 Members may LOCK in a portion of their balance at a fixed rate for the life of the loan based on a fee of 1% of the outstanding balance. Your credit line may be adjusted based on the portion you lock-in at fixed rate.
Our Office
1400 Douglas Street - Mailstop 0040
Omaha, Nebraska 68179-1001
Get in Touch
Phone
Local: (402) 544-2500
Toll-Free: (800) 370-2260
Text Us
(402) 501- 7473
E-mail
memberservice@upcu.org
ABA Routing Number
304083451