COVID-19 Update - March 22, 2021 - All Holyoke Credit Union lobbies will be open to limited traffic. The West Springfield and Feeding Hills lobbies and drive-thrus will be open: M-Th. 9am - 4pm; Fri. 9am -5pm; and Sat. 9am-12pm. The Holyoke lobby will be open: M-Th. 9am - 4pm; Fri. 9am -5pm; and Sat. 9am-12pm. The Holyoke Drive-thru will be open: M-Th. 8am - 4pm; Fri. 8am -5pm; and Sat. 9am-12pm. Mobile banking, online banking and HCU's Member Solutions Call Center (413-532-7007) are available for your convenience. We look forward to seeing you again! Please remember to wear a mask and maintain social distance while in the lobby. Thank you!

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%.

100% Basic 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% Basic HELOC - This plan has a variable rate feature. The APR is based on the value of an index. The index is the Prime Rate published in the Money Rates column of the Wall Street Journal plus 2.00%. The rate is fixed for 12 months.

Click Here for Current Rates and Any Additional Disclosures