COVID-19 Update - May 15, 2020 - As of May 18, 2020 HCU's business hours will be expanding as we begin the process of a gradual reopening. The Holyoke and Feeding Hills Drive-thru hours will be: Mon. - Fri. 9:00 am - 4:00 pm and Sat. 9:00 am - 12:00 pm. The West Springfield branch and drive-thru will remain closed until further notice. If you wish to meet with a Member Service Representative at either of our branches, please call for an appointment. For Holyoke, call Sharon Carter at 413-341-0133. For Feeding Hills, call either Marjorie Letaez or Beth Cook at 413-278-6840. We thank you for your understanding and your continued patience!

Home Equity Line of Credit

When you require money for college tuition, consolidation of credit card debt, home improvement projects, or a variety of other needs, a Home Equity Line of Credit from Holyoke Credit Union allows you to maintain an open line of credit by borrowing against the value of your home. It is an efficient and versatile tool providing a source of funds with low interest that, in most cases, is tax deductible. Please consult your tax advisor regarding the deductibility of interest on this loan. The home equity rates offered by Holyoke Credit Union are consistently lower than area banks and you pay no closing costs, points, or property valuation fees.

Our experienced mortgage department associates can help you establish a Home Equity Line of Credit. The options shown below allow you to borrow up to 75% of your home’s value, less your outstanding mortgage balance.

  • BetterThanPrime – This product offers you a variable rate set at 0.50% below the Prime Rate. The rate is adjusted monthly based on the Prime Rate published in The Wall Street Journal.
  • Basic – The rate is fixed for 12 months and then adjusted monthly to the Prime Rate  published in The Wall Street Journal plus 0.00%.
  • WiseChoice – The rate is fixed for 24 months and then adjusted monthly to the Prime Rate published in The Wall Street Journal plus 0.00%.
  • SecureFit – The rate is fixed for 36 months then adjusted monthly to the Prime Rate published in The Wall Street Journal plus 0.00%.

100% Home Equity Line of Credit

Holyoke Credit Union is also offering a 100% Home Equity Line of Credit (HELOC), which allows you to borrow up to 100% of your home's value, less your outstanding mortgage balance. Please consult your tax advisor regarding the deductibility of interest on this loan.

  • 100% HELOC -The rate is fixed for 12 months and then adjusted monthly to the Prime Rate published in the Wall Street Journal plus 2.00%. 

Click Here for Current Rates